In your case of a fourplex, option 2 should get you a better deal.I would also agree with Bill on how the number of units may not correlate with the value of the property unless it is a large multifamily complex, and sometimes a fourplex or several single family houses would give you better returns. 100% We always recommend conventional first until you can no longer qualify for those. 

Quote from @Michael Johnson: Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

1st tenant (that came with the house)- she is a Section 8 tenant and clearly knows the game better than me hence the prolonged delayed Marshall’s execution.I cannot have 2 Government assistance programs in the property at the same time since it is not a legal 2 family.

He did homebuilding for a few years and is currently building a $40M condo complex for a family office.

Investment Info:Single-family residence fix & flip investment in Goodland.

Are you looking for multifamily or single family home?

This is for a 3 bed/2 bath single family rental home.All input would be appreciated! 

A very good opportunity and it just makes sense to build a new home on this lot since our family continues to grow.