I already do repairs and maintenance on 19 units, so not really looking forward to all the headaches inherent in taking on a new 6 unit property built in the 70's (I would outsource more but it's nearly impossible to find quality labor around here, this is a boom town likely cresting the market cycle so all the non-methhead workers are booked solid for months and the smart ones stick to new construction or high-end stuff and wouldn't return my calls on most of this crap.

I even thought about finding a hard money lender, and having my contractor add a 2nd addition to the house I'm currently living in, taking my 34% roi, much higher.

Engaged the seller about our interest but let him know the price was too high for us and that we were interested in taking action $700k.

https://www.biggerpockets.com/files/user/brandonatbp/file/lead-call-intake-form-script

I'm still currently in the voracious researching/learning phase and I am very interested in taking out an FHA loan to potentially pick-up a tri- or fourplex as my first investment.

I might be the worse person to give you advice on this but I have often and still do get myself into situation where I don't know the end result but I'm a firm believer in taking massive action, solving problems and making it happen.

I say dip your toes in, take on something safe and get comfortable.

My own website really is - I have an intake form there that gets a lot of traction.

Lenders are notorious in taking forever to make up their mind and then when they do, they frequently change it.

They may let a seller suffer less who carried back a second.Assuming there is an agreement for the second to cut the debt, restructuring it later, dealing fraudulently with a lender to influence them in taking a loss won't be something you want to do.