It doesn't matter if it's a mortgage, HELOC, or Mr.

The first question is, can I use a second home mortgage (10% down and lower interest rate) for this. 

They could offer different products for single family vs multifamily so it's a good idea to get with a lender to see what they can do that may not be your typical mortgage type.

I will get tons of tax benefits and the tenants will pay down my mortgage each month.

and only take out a mortgage on one or two in order to accommodate the $700K mortgage now. 

You could live in one unit and rent out the others to offset your mortgage, staying within your $4,500/month affordability limit.

Success:  Signing a deal with First WatchFailure: Bought a retail condo, not realizing the low ceilings were such a deal breaker for a lot of tenants.Pain: A lot of turnover this year, especially in light industrialAha moment:  Mortgage note investing needs to be a larger part of my portfolio2025 Goals: Less Investing and more pickleball!

So, I also require that :Monthly Rent + Monthly Debt Payments <= Gross MONTHLY Rent * 45%This is similar to how mortgage qualifications work by considering the applicants' debt loan along with their housing cost in relation to their income.

I would say maybe look into a 203k HOA loan great loans for people our age. you would be able to do a value add and not pay your mortgage until the updates are done up to 1 year.

Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure.