If you’re not paying cash for properties, get pre-approved for an investor loan to understand your available credit.Time FrameThe shorter your timeline to achieve your goal, the more upfront capital and credit you’ll need.End GoalMost investing goals focus on replacing their current income, like $5,000/Mo.

@Shak F. you wont be able to do a cash-out refinance with a conventional loan, since they require 12 months.

You could get a new loan for $150k.

Was thinking of taking a Home Equity loan for the downpayment ( @ $100,000-150,000).

My bookkeeping practice pays me active income, so my priority is equity.For debt loans, you will see 10-15% annualized, depending on your experience as an operator.

Are you aware that a percentage of rent on additional units of MF can be used as income to qualify for the loan? 

There are two pieces to the loan calculation - loan to value (needs appraisal), and debt service coverage ratio (rental income vs. mortgage).

You verify the lender actually owns the loan and does not have any leverage elsewhere on it.3.

Plus you can get 30 year loans instead of 5-7 year loans you would get on 5 units or more. 

Purchase price: $219,000 Cash invested: $63,275 Buy and hold single family residence using a 203K loan What made you interested in investing in this type of deal?