Small Mortgage/ Rehab to Rent type of loan Advice Needed

[Han Oo]

Hi all BP members,

I have this situation. I found the duplex that needs work on MLS. I am looking for some type of rehab to rent loan. I can use Fannie Mae loan for single family house and I just did one. However, I cannot do that with duplex or multifamily. I understand some lenders including HML wont be lending below 100k. The estimated purchase price is about 70k and rehab is about 25k to 30k. So, I would like to find out how should I do that. I am just wondering is there any lender out there which is doing like Fannie Mae type of loan with duplex to fourplex. I contacted lending one which has rehab to rent but their minimum purchase price is 100k. My other HML is minimum 100k and if below 100k, I will have to pay more points and fees. Please give me some advice on how could I move on. This will be 2nd rental property. My 1st one just finishing rehabbing and about to rent it out.