When house hacking, consider the area's average rents, property values, and financing options, such as FHA loans or conventional loans, which may require as little as 3.5% down for multifamily properties (if it's owner-occupied).

You got the lower down because the property is owner-occupied.

@Bryce MillerWelcome, and congratulations on making the decision to leverage the owner occupied loan to get started in real estate investing.

The area has seen growth in both the residential and rental markets, making it a potentially lucrative investment.For financing, you can explore options like conventional loans, FHA loans (for owner-occupied properties), or even local programs that might offer lower down payments for investment properties.

@Austin Williams yes you can do a 100% cash out refi on your existing home with a VA loan, but keep in mind that you would need to finance it as a primary residence, which resets the 1 year clock that you need to occupy the property.

We tend to gravitate to long-term owner-occupied properties, which are overdue for aesthetic updating, but well caredWhat else? 

Walkable to locally owned restaurants and the street had mostly owner occupied homes that are owned by long time owners.

Real estate loans to owner occupied properties where the business of the owner is closed down - or SHOULD be, and the owner needs some time to sell the property.  

All are fully occupied with great long term tenants. 

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.