Learned that from a family member.

A 2 +1 is a legal 2-family with a boarder unit that can be lived in by the owner, usually without a stove and you want to make sure the bathroom is permitted.I hope that helps.

The mortgage on this property is way above what I can rent to a family.

Also if you have a single-family house already sometimes loan underwriters don't approve you moving from a single-family to a multifamily.

I am single and 42 and doing this all on my own... no one in my family has any experience in the investing side of things, so I am truly starting from scratch.As of April 2025, I will be moving to the Charlotte area (along with my two pups) and putting a renter in my Austin house. 

I came into about 800k and looking to go into commercial multi family in the Midwest (Iowa most likely).  

First time buyer looking to purchase a multi-family as an investment property. 

Costs are too high and I'm into this for over 100K.I have feelers out for someone who might accept my lot as participation for an equity agreement in a new build.

DSCR or Fannie/Freddie loans can go up to 75% on single family homes, multi family homes (2-4 unit) max at 70% if you stick with Fannie/Freddie.Other things to consider would be:Paying points for a lower rate vs higher rate with no pointsIf going DSCR - Prepayment penalty term (0-5 years)The lower the loan size ($200-250k and lower), you should consider paying up to 2 points and doing a 5 year prepayment penalty if going DSCR.

You don't need to save up $100K or quit your job today in order to become a successful investor. I started 23 years ago and bought my first property with 3.5% down using an FHA loan. I had to borrow the down payment f...