This criteria is for 1-4 and 5-8 unit programs.

You don't want to start a relationship to learn about storage units and then find out they only invest in single-family homes.3.

First off- $4.5M for 48 units and 50% are vacant is not a steal, unless this property is located in a downtown area and you have a contact with a developer who will pay 2X to build a high rise. $93k/unit for 50% vacancy doesn't carry hardly any debt, hence why they are capping you at $500k.

$150k will be hard to get anything 2+ units relatively turn key in Columbus.

They allow up to two dwelling units per lot but that seems to be more for like a finished basement unit.

december has one unit fully booked, 2 units half booked, and one unit that is virtually the same as one of the half booked units that has literally 0 nights booked (why?

Right now, Dec 2024, on an investment property 4 unit there are some DSCR lenders with rates better than Fannie/Freddie. 

The rules on multi-family owner occupied recently changed allowing you to put down as little as 3.5% on up to 4 units.

I am in Madison, but set up a search in Sheboygan and Port Washington as we have some family in that area who thought could keep an eye on things and the entry prices are less (in Dane County the median MLS 4-unit sale this year is $603k with 31 sales and for Sheboygan Co. this year only saw 4 sales of 4-units noted, but a median price of $252k . 

The outcome was great.. they secured a mid-century home with a rental unit that offered both a comfortable living space and a reliable income stream.On a personal note, a friend of mine made a bold move and purchased in a slightly less popular area.