I would suggest you talk to a mortgage broker or a bank though - if those homes are zoned commercial you will probably have a hard time getting an FHA or low down Conventional mortgage.

The Payment is not an issue but I’ve just never done owner financing and someone suggested this method as a way to acquire section 8 homes in low crime areas.  

Your remaining balances weren’t entirely clear on the two mortgages, they are really low rates, so instinct is not to refinance them, but sometimes it is worth it for the longer term vision.It also seems like you may be considering tapping your equity to replace your income, without knowing your age or long term goals, this doesn’t seem like a great idea on the surface.If you are interested in jumping into real estate full time to replace your income you should realize that is probably going to take 12-24 months.

Few will do them, and those that will, have very low leverages and higher fees. 

Securing loans with a low credit score is possible through private or HM lenders.

Are you priced fairly and have a low security deposit?

And there's always the chance the developers you try to work with on your own will try to take advantage of your lack of experience by giving you a low-ball offer.

Honestly that’s the reason I even considered a cash out refi sacrificing my low rate for a greater return in an investment. 

Additionally, a sewer line repair usually results in vacancy and lost rent--even more lost money.A new driveway can easily cost $5k on the low end, and plenty of properties in my area have $15-$25k+ driveways. 

I wanted to get started in investing in multifamily real estate in 2022 to take advantage of low interest rates and rising rents.