3 unit MF Deal with Mortgage 75%LTV

[Louis D Trejo]

Hey BP, newbie here in need of some direction, exploring a deal from a family member that does not want to keep the MF anymore. Has FHA loan 75%LTV needs rehab work 25-30K. Potential Cash flow of $2600/mo current mortgage of $1150. I currently have conventional loan for my first property, so was thinking of assumption loan with current mortgage current rate of 5.5%. However encountering roadblocks getting traditional financing from underwriters as owner occuppied. Exploring ideas like Quit Claim Deed to get refi options available maybe placing it under LLC. Needs some ideas or assistance how to pull this buy and hold property.