Ironically, I was ready to let go of multifamily and focus on more lease options, but then my team finally got an offer accepted on a 54 unit.

Finally, be prepared to need a 30-35% down payment.

Quote from @Jim Bice: Hi all, my wife and I, after many years of analyzing, finally purchased an 4 unit apartment in western NY.

My wife and I finally found our path to our first rental!

. - You will finally get a tenant. 

Yes. we finally have an APP that lets us provide a rating for the renters.

Finally, be prepared for long timelines and budget flexibility due to the permitting and approval process.Good luck as you grow your portfolio!

@Ellis Moyewe really don't know a lot about this situation since there aren't many details in your post... but i don't think this makes any sense for anyone involved here...if it's a flip that's not selling, refinancing may not solve your problem and allow you to pay back the HML in fulland typically a sub to buyer wants a low interest rate... and if you refinance now you won't be getting a low interest rate, you'll just be getting whatever the market offers.and finally.... the vast majority of loans are NOT assumable. 

I'm a long time lurker finally getting ready to start making a move and getting that first rental property.

Investment Info:

Large multi-family (5+ units) buy & hold investment in Plymouth.

Purchase price: $150,000

In the process of buying 1.21 acres in Isabela, Puerto Rico. Isabela is a town on the north ...