Condo's are usually on the cheaper end of cost for appraisal reports, typically not $750 (but if it's a high end condo or in an area with there's some complexity, the fee can reflect that). 

Spreads between conventional loans are typically 100-150 bps of the loan amount.

Meaning, the bank wants to see that a property cash flows for typically one to two years of tax returns before they count it as income. 

@Matthew Drouin had a great reply:"Typically 50% of revenue is going to go right to operating expenses on small multi family. 

Typically, higher income areas have lower crime, more amenities, better schools.  

I'm fairly bullish on the sector.I qualify for the CARES Act penalty free 401k withdrawal and I plan to fully utilize this.

> Many, basically get taken advantage of by those in the industry that have an incentive to keep newbies blind to new realties, just to keep their good times rolling.If someone poses an inquiry on this forum, I provide my honest opinion (which it typically that the investment is unlikely to provide a return that justifies the effort & risk).  

Typically, RS3 permits SFHs and two-flats, by right.

Be sure to utilize tools of the trade for the best information.

Even with the balloon, this is more typical for owner finance.