OOS Investor focusing on Iowa Multi-family?

[Andrew Kougl]

I'd be an OOS investor looking into investing in Iowa. It seems like a good, landlord friendly state with reasonable taxes. I also like the Series LLC opportunity. I'm hoping to connect with others who are trying and already investing in the market to learn and help each other out. I'm specifically interested in Multi-family (4-8 unit). I've already done some research on Davenport but open to the other major metros in Iowa as well such as Cedar Rapids and Des Moines among others. My goal is at least a 12% CoC and a 9 Cap Rate. This seems achievable in Iowa but let me know if that's unrealistic.

The one issue I've had so far is with financing. All seem to want 25% down, is that the standard other investors are seeing?

Looking forward to joining the Iowa investing community!