Financing Question for first-time investors without a lot of cash to put down!

[Phillip Dixon]

Hello there!

Quick shot in the dark to anyone with more experience than I do! My wife and I would like to buy a multi-family, but we do not have a bunch of cash to put down! We own our home, about 80k in a 500k loan, asset probably about 600k value in todays market. We net about 220k in salaries & compensation. Our credit scores are both well above 800. We want to buy a investment property priced at about 700k, with little down but finance about an additional 200k for improvements. We have a good understanding of our city & local market, and think it would be about a million dollar asset and cash flow positive by the end (we'd be adding a 3rd unit to a duplex). Would any lender even consider this? =)