Good listings are a people game, not anything you have at the bottom of your post.

Mfh is an unfair game because you need a partner to help you with the experience question when getting a commercial loan.

But we would still be guessing.The game-on for you is to get your GC out to the property and give you a budget beforre the proeprty gets snatched by another investor.

Just keep in mind the process can take a little longer since you’d need to work with contractors and follow FHA’s requirements.4.Your End Game: Whether you’re planning to stay long-term, rent it out, or sell once the work is done, it’s important to have your exit strategy mapped out.

2) Many flat fee PMC's charge whether property vacant or occupied, tenant paying or not.Lots of games also played with Maintenance fees.

Honestly, it seems like you’ve got more skin in the game than I do since I’m just getting started as a bird dog, but I really admire your approach.I think your focus on tax-efficient strategies and building a reliable team is spot on.

I wanted to get back in the game again but don’t have much in reserves that most if not all HML require.

.#1 NUMBERS GAME:  It's not easy.   

Will they finance 100% of the purchase and renovation or will they want skin in the game (you putting money in).Most do not do 100% funding so beore going down more rabbit holes, make sure you have the $ aspect situated first.

A small multifamily property is a smart choice for a first investment—it offers a great balance of income potential and manageable scale for someone new to the space.Don’t worry about being ambitious; it’s clear you’ve done your homework, and you’re already ahead of the game by setting a clear goal.