Low Down Payment on Multi Family - One/Two Units Occupied

[Ben Trageser]

I've been researching and think the answer is no but is there anyway to get a 3.5% to 5% down payment on a three family home?

The property that I would be purchasing would potentially be around $700k in northern New Jersey. Based on comp rents on the market, I feel that the rent is extremely low for what it could be. There may be some updates needed to reach out comps but here is what I have.

Unit 1 $1,700 with potential to reach $2,500

Unit 2 $1,600 with potential to reach $2,500

Unit 3 $1,300 with potential to reach $1,750

I would want to put down a lower down payment to save cash to make potential upgrades. The question is, is there any way which I could get around the 20% down needed? I don't fall in a low income bracket so I wouldn't qualify for that. I've thought about other means of financing and would love some opinions.

I have potentially thought about going in on this with a partner and potentially by myself. Even going in with a partner and occupying two of the units, I still couldn't qualify for the 3.5% down right since one of the units is being rented out?