FHA Multifam or Split Apartments and Finance Seperately?

[Daniel Simpson]

I'm currently looking at an 8 unit apartment complex. This will be my first multifam deal and I'm trying to work out a low up front cost to finance the property. The units have great cash flow for one person, but if i bring on an investor then the deal really isn't worth it. These are 2 seperate, 4 unit buildings,on the same property totalling 8 units. I can try to stay around 10% down and finance both buildings as one property via investment/commercial style loans or I can subdivide the property into 2 seperate parcells, take an FHA on one building and live in a unit, and try some other low down payment loan on the other building. Any advice, recommendations and similar experiences would be greatly appreciated. I'm working on forming an entity as well for commercial use. Thanks!