When speaking of a strictly commercial loan that is a different animal as is not 2 units purchase first time buyer which @Thomas Lebens states he is. 

Quote from @Sonia Vanegas: You both screwed up by failing to be specific.

You need to make sure that your property is easily financeable if you decide to sell it in the future and any future buyer can call out non-permitted items and actually report you to the building department or, at a minimum, ask for seller concessions.

If you fail to follow the rules, you may open your personal assets to a lawsuit.

Most fail to paper the contracts, indemnification and additional insured requirements correctly.

Quote from @Chris Seveney: @Zach EdelmanBe clear BP does not recommend companies - companies pay to advertise on BP and while BP I assume vets them - it’s still buyer bewareI am not an employee of BP but I want people to understand on BP and on most sites there are sponsors and affiliates but they may not be thoroughly vetted.

Double check on permits if the previous owners has done a remodel.Do not rely on agents representation.Do not work with a dual agency as a buyer, the agents first commitment is to the sellers.Allow at least a year of seasoning before determining the profits of an investment.Happy to share.

This is where an STR-investor-friendly real estate agent is a rockstar for you as a buyer.

Originally posted by @Chris McIntosh:@Mary Lopez I helped a California buyer purchase a 70-unit multifamily in Columbus, OH last year so it can be done. 

The internet companies that failed, failed because they didn't have a viable product or service, not because of the underlying technology of the internet.