(We are working on a generalized survey to collect info on our buyers/potential buyers so we can make sure we understand who our customers are while trying to dial in their preferences and patterns.)You are doing great things. 

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

My goal for next year is scale and acquire at least 5 more properties (preferably multifamily).

There are a few ways you can handle the renovation which all comes to personal preference.

That sounds like a lot of work and I'm sure he would prefer to avoid that work and just sell it for $1.9m or $2.0m.if I were to buy it from him, to get to cash flow neutral I would need to increase rent on all 6 units to market rates and my monthly payment would need to be close to $6.2k/month, which would be $100k down payment, $1.7m loan with seller financing at 2% interest rate and flexible ballon payment.What would you do if you were me? 

I prefer public comments here before you send a direct message, though. 

Yes, as I'm doing more research, I'm finding that I would prefer to invest in markets that I know personally, so as not to rely on external variables completely.

We would have preferred to work with them within reason to make it a quicker and easier process.

I can do that through charging points, but since I'm getting it at a lower rate than you could as a consumer, I prefer to mark up the rate while still being lower than most others in the market.

If there's enough duplexes that it's likely you find one you like in a reasonable amount of time (less than a year), then start looking at them in your preferred area.