Giving away the place cheap only creates more work for yourself screening lower income individuals, and attracts scammers.

I’d prefer to buy as large of a MF property as possible because of economies of scale and having to complete less transactions, but I haven’t closed or underwritten a deal that large before.

You can get away with using 5% for Class A tenants, but we use 10% for Class B and lower. 3) Tenant Payment Performance: you didn't mention this, but it is important!

.- bank integration (download transactions) a must- no employees, so don't need payroll- if it'll bill that's awesome.

Getting it under market value would be a bonus.So, would using an FHA 203k renovation loan, which would allow me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

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

Appreciate if anyone can provide a rundown of costs to expect with this type of transaction?

Then use the extra roommate rent income to pay down your mortgage and look to refi to a lower payment in the future (3-5 years) - so it cashflow when you move out.You could also choose the smaller unit and STR the other unit to generate more cash to pay down your mortgage and refi, so it cashflows when you move out.Bottom line: you'll have to get creative to solve your cashflow challenge!

You'll then see that delinquency rates are:- At their lowest point since 2006- Historically on the low side of normal - On an overall downward trend for the past 4 yearsIn fact, excluding the artificially propped-up mortgage market of 2004-2006 during which delinquency rates were slightly lower than they are today, bottoming out at 1.41% in 2005, there are fewer mortgage delinquencies today than at any time in the past 33 years.By the way, when these scant 1.73% of homeowners become delinquent on their mortgages, they overwhelmingly have the equity to be able to sell the home at a gain if needed.

Hey Laura,Not sure if you are still looking to partner with a trusted title company in Central PA but we have used Capstone Land Transfer for 100+ transactions and loved the experience.