Looking for lender to acquire MFH in TN (through LLC)

[Sidney L.]

I am in the process of acquiring our initial Multifamily Home (MFH) investment, utilizing an LLC in which my business partner and I share equal ownership. Our first acquisition is focused on properties in the $400-600k price range within Tennessee.

I am seeking advice regarding financing options. Should we opt for a local lender, or would an out-of-state lender be just as viable? It's worth noting that I am based in New York, though I'm uncertain if this has an impact on the decision.

I would greatly appreciate any recommendations or insights you can provide. Thank you in advance!

[Sidney L.]

Thank you all for the great response and suggestions. I will explore these and hopefully be able to find a loan product that is suitable for me - it does seem like DSCR loan is one of the better suited product out there!