Also - there are some other ways to gather funds to purchase more properties.

Hi BP community - I'm an investor with 3 SFHs in the Nashville area looking to acquire my first small multifamily property (2-4 units).I'm trying to determine the best approach for the 25% downpayment, comparing using cash that is currently sitting in a high yield savings account to funds from a HELOC on one of my properties.

. - Inefficiency with payouts and administration will be compounded as the FAIR Plan has zero experience with a major pay out and lack infrastructure of assessors and technology to distribute the funds they don’t have.

However, I don’t yet have the funds for a down payment on another house, and I’m trying to figure out the best option for where to live while I rent the apartment.Do you have any recommendations for managing this transition or tips on finding a temporary place to stay?

With a single-family, you have one property, which means fewer moving parts.If you have the funds to scale, I would recommend moving toward single-family homes, but if you're just starting out, multifamily can be a smarter choice.

I reached out to the individual marketing the deal to schedule a property viewing, but they’re asking for proof of funds (which I expected) and a signed purchase agreement or LOI.Is this normal?

Without knowing KC, I would be hesitant because given the price and rent, I suspect it might be a less desirable area of town—again based on prices in completely unrelated cities.  

If the use of the funds are for business purposes, like investing in real-estate, you will have an easier chance of qualifying for a loan documentation and income wise.

This concept aims at addressing the challenges of what to do with defunct suburban malls and maybe even empty big-box retail store spaces that are in desirable and affordable neighborhoods.

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.