N00b looking to get started in multifamily properties

[Chris E.]

I've been a lurker on and off here for more years than I care to admit. It was not until recently (read: last week) that the light bulb went off in my head as I listened to random BP podcasts on my way to/from work. My idea of getting into real estate investing was coming up with 20% of your own money (that's 60k where I live for a low end property), traditional residential mortgage, net maybe $200 a month if I was lucky and repeat the process when I came up with another 20% until I had maybe 40 properties. This seemed incredibly inefficient and not worth the time so I canned the idea of real estate investing all together - Fast forward to last week when I learned about creative financing to include wrap's, hard money, etc. 

I have no interest whatsoever in SFH. I'm looking to acquire multifamily units exclusively. Ideally I'd like to find ones that need rehab, get a commercial loan from a bank on a property whose ARV will be high enough that the bank is ok with no money upfront.