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

If I am in your shoes I would buy 2-4 units, get a conventional loan, ask the sellers to pay for the max contribution (3%) towards closing costs.

The 3rd mortgage is paid back now freeing up $200/unit/month cash flow and then when I’m able to pay back the 2nd mortgage it will go to about $350/unit/month.

Sometimes I am honestly skeptical how some people scale to 100 units in three years unless they have a lot of liquid cash to spread around. 

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

The “A” located duplex has one bedroom units that rent for $2,000/m and the “C” located duplex in the same market has units that rent  for $1,200/m.

AC unit is brand new. 

You will find a ton of NARPM members, some with thousands of units under management and decades of experience, freely sharing their wisdom with you.

Very few lenders will, especially for 1-4 unit SFR and doing a fix and flip. 

It also makes it harder for other operators down the road--- not your main concern but we all impact each other.What about you and your wife live in the garage unit, and rent out the house for a lot more, at least until all this permitting is figured out.