The Covid lockdown gave people a post 911 mentality of getting out of the congested city; the current looting and violence are only exacerbating those feelings.

Should I just go the FHA, 3.5 % down route to get some skin in the game?

Real estate is not EASY money by any means, however, with consistency and tough skin you can become successful down the line. 

And it can potentially provide you with better terms, low or no fees, and easy process.I think the potential trouble could mostly arise with you, as the buyer, not having a large enough down payment or not enough skin in the game. 

Just different ways to skin the cat!

I hope you are partnering with a local investor who has skin in the deal. 

Most lenders also like to see that you have skin in the game which you really would not have if you get a loan for down payment and then a loan for the property. 

If you do renovations, make sure skin is thick, and your pockets/credit are deep.   

To be comfortable I would need to feel secure this buyer will manage and maintain these 25 units well, especially since they will have little to no $ skin in.   

I have noticed that usually bank would like some skin in the game and may require to put something down.