@Jay Hinrichs would love to hear your perspective having lived in Madison as I recently listened to podcast #197.I look forward to being in touch and thanks in advance.

@Theodore Arzt Until a perspective applicant has taken the time to fill out an application and you have a clear picture as to their background I would not even waste time thinking about the what ifs. 

Are you available to show the apartment to a qualified perspective tenants around their schedule?

There are all kinds of inefficiencies inherent with the size, which leads to my perspective on your question:1.

@Alexandra Lowry Thanks for your response and putting in perspective for me, we are for sure going to use the VA loan overall.

Again, think of the bank perspective, they are going to put out 500k and you're going to come up with what?

However, I decided to post hoping for some bp perspective (or additional criteria to consider) because I hate being in this situation.

From my NYC perspective Chicago is a great deal. 

So, From a lender's perspective, what constitutes a Multifamily?

Really appreciate your perspective.