Because if you mean you were trying to finance a flip...then no income is required at all! 

I'm new to this and trying to learn as much as possible. 

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.

So are you trying to avoid pulling permits? 

Patience is definitely needed if you are trying to buy from a resident with no real estate experience.

So, I would probably try to get her to sell her interest to you.

Trying to decide between doing long term rental or short/mid term rental.

I love going out to try new drinks and try new food.

I would also join a bunch of Investor groups via facebook and try to connect with as many people as you can. 

If the project is in Canada then I would look to an attorney that understands international law as it could be more complex.Personally for something along the lines of what you are doing I would look to partner with another developer vs trying to raise the capital as that will be less labor intensive.