Commercial Lines:  Two types of policies are common:     a. business owners policy     b. package policyDiscuss the commercial policies with your agent to see if there is any advantage to those for your situation. 

Steven,an 11 Unit will, for the majority of Insurance companies, a Commercial policy (Package or Business owners).  

I was considering finding what is owed on the property and cashing out the seller with a severance package.

I ask for current deals and past deals, and compare to underwriting/initial packages.  

It emphasizes the importance of accounting for every element of a project, including contingencies, financing costs, profit margin, variances, and unforeseen expenses.

Look into selling your 3 rentals as a package deal to 1031 them into a larger multifamily.

You already have some tools in your toolbox....no pun intended.Now, you simply have to work on the other elements to progress your REI pursuit.Ok, now that you have taken your initial step, below are some quick links to get engaged. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/meethttps://www.biggerpockets.com/alertsHow to Use @Mentions on BiggerPocketshttps://www.biggerpockets.com/ruleshttps://www.biggerpockets.com/termshttps://www.biggerpockets.com/inviteshttps://www.biggerpockets.com/perkshttps://www.biggerpockets.com/forums/categoriesREI books suggested by BPershttp://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/?

This is a common element I see with beginning investors. 

Also I should mention that my husband’s job will pay for most of our closing costs if we sell by November 2024 as part of his relocation package. 

@Gustavo TellezThe sort of property you're interested in, the financing choices you have available to you, and your general financial condition are some of the elements that will determine how much money you need for a down payment to begin your investing adventure.