Im considering buying a 4plex in McAllen or Edinburg at the 400k - 530K range.

For example, there are quality oceanfront homes for sale (as of this post) starting in the $650k price range. 3/2 slightly dated, but walk down your private stairs to the sand.

We were under contract for a couple of months while we got through the various contingency periods (attorney approval, inspections, appraisal) and while the tenants were given a sufficient amount of time to move out. 

I’m in the below 500k range for a 4-plex. 

That was more six figure range reserves and it made a difference.

@Mohsin Mazhar look into class A-/B 3/4 units these tend to have sufficient cashflow so you make money even after expenses.

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If 10% is sufficient, do that and keep the remaining money as a reserve or for your next investment.

Most small dogs fall into the range of between 10-20lbs. 

LTV caps will range from 70-85%, although terms will probably be horrible at 85%.