As Guadalupe said above, a DSCR is a great option for buying with a lower DP but it comes with the caveat of higher interest rates; and as Nate said, National Bank of Coxsackie in Glenmont is a great local bank which wont sell your note to larger banks.

This route also provides access to capital to fund some larger purchases in the next 5 years (roof, HVAC, siding, windows on rental property and last projects on primary residence) in the form of a HELOC if we were to go the route of a first lien HELOC/All In One mortgage.

If most rental demand is for larger homes, it may take longer to lease.2.

The agencies have minimum borrower loan guarantor financial strength requirements (IE - liquid assets => 9 months P&I; net worth >=100% loan amount; FICO >680).

Anything larger than that I would not approach without a bit more experience...

When you say multi family properties do you mean 2-4 units or larger apt complexes? 

Meeting a 20% down payment to avoid PMI seems manageable, although would take a big chunk of my liquid net worth, and I prefer this route over using an FHA loan.

@Alex Lee - A conventional renovation loan is not an FHA loan and requires a larger down payment...with the Homestyle renovation loan you can put down as low as 5%.If you can do Homestyle instead of FHA 203k, I think that is a bit easier since there are not as many regulations and requirements.  

Hi MichaelFor a seller-financed deal, especially for a multifamily property like a six-unit or larger, a typical down payment could range from 10% to 20%, depending on the terms you negotiate with the seller.

If you can network and work with a larger wholesaler to get you going I would.