Am i missing a big opportunity?

[Ashley Guerra]

Hello all,  I am a young real estate investor who is looking to buy their first property. 

I think (emphasis on think) I have found a deal for me but here is my situation: I am a recent college grad with no 2 year income (just yet) and I came across this property inHamilton, NJ, in which i need between 100k - 144k after all costs (rehab, closing, 20% down payment) I do not have this money as a 22 year old, so I naturally wanted to get an FHA loan but the problem is, its a quadplex that has all units occupied, so i cant really live here because there would be no space, unless there is a way around this. I would be able to come up with this smaller sum amount, since I have been saving.

Now, my father is the money man and could potentially help but even 100k-144k is a big amount of money, ALSO he just got his first house back in June 2023, which can impact pre-approvals, so what are my options here? How creative can i really get  IF this is even a good deal. 

I have ran the numbers and for me, they check out, obviously I would do more digging if it comes down to actually purchasing this deal

So... my biggest concerns are that I want to get into my first property and if I find an opportunity, like perhaps this one, I don't want to miss it, but the amount of cash on hand is a concern, so I'm kind of stumped. Where should I go from here? How can I tell the banks "I'm not going to default" without the cash on hand?

Thank you for any help at all!!