This means that if you pay off the loan too early, then you'll pay a 1-5% fee off the loan amount. paying off the loan early means you either refinance or you sell the property, both would trigger a prepayment penalty to the lender. that being said, you can choose your prepay options, 5yr usually giving you a better interest rate by like a 0.25%, 3yr being most common and standard, and a 0,1,2 yr where you can buy down the prepay to be less years. meaning you pay 1% upfront of the loan amount to get a 1yr prepayment penalty so you're free to sell the property or refi after 1yr. 

I’d be very surprised if there’s not more small multis in the suburbs in your area.

Start by joining local real estate groups, narrowing your approach to strategies like house hacking or multi-family investing, and building a team of professionals like agents and lenders.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I am actively looking to connect with investors interested in [mention specific types of investment opportunities,  single-family homes, multi-unit properties, distressed to expand my portfolio and deliver strong returns.

Choose the Right Property:When choosing a house to flip, search for properties in desirable neighborhoods that need structural or cosmetic improvements.

I am a complete rookie zero experience, zero properties and highly determined to get into multi-family investing.

they told us the borrower is not allowed to choose a title company we have to use theirs. 

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

Are there specific lenders which are easier to work with for small multi projects?