This is because their lender will want to review the resale cert which includes a summary of the financials, reserves etc.

But if cash is tight, putting less down and keeping reserves might be smarter, even with PMI.

Ask yourself, why would the federal government pay MORE than market rent and waste our tax dollars?

There is a ton of DD to do on a MF property, are you doing an environmental study, a reserve study, analyzing the T-12, market study to show there is room to increase rents (of course every seller states rents are underpriced)... 

A realtor who used to have a PM company called "JBS Realty" until this month.He used to manage 8 of my properties and is currently refusing to pay out multiple 5-figures worth of rents/property reserves/security deposits/unpaid utility bills owed. 

Our cash reserves down to barely anything. 

the majority of even my national users are looking to keep cash in reserve and as such are looking to landlords to finance that TIA as additional rent at a return premium and then that extra rent bakes off in whatever term is negotiated. 

5% down federal loan How did you add value to the deal?

Also, there may be some tax benefits if they can qualify for federal funding based on low income. 

I have $20k, but don't want to exceed $15k down so that I can have at least $5k in reserve.