Plus, multifamily properties often qualify for owner-occupied financing options with lower interest rates and down payments.As for timing, here are a few things to consider:Market Conditions: Keep an eye on local market trends.

This being said, I don't believe we'll be able to meet the income requirements to qualify for a conventional.This leads me to believe hard money or private lender is more the only option to get my foot in the door, use my business to make repairs at very good rates, build some equity then refi once the balloon is due. 

As Brittany referenced, you do not need a two year history in order to utilize the income in qualifying, in fact you can use the income with no tax filing in certain cases.

It does come down to DTI and what you can show versus what you can qualify for in terms of home price.

Several have mentioned utilizing low down payment second home loans for qualifying.

I thank them for their interest and let them know they do not qualify. 

I'm a 23 year old military member and will be a veteran within 2 1/2 years :) and I qualify for a VA LOAN.

Do you have an idea of the long-term rental amount, and would that be sufficient to meet the DSCR ratio needed to qualify for the loan?

Higher loan balances we would likely see an opportunity in the future to refinance again due to lower rates so consider a 2-3 year prepayment penalty.Of course if you qualify for Conventional Financing (Fannie/Freddie), there are no prepayment penalties so just calculating out the return of investment timeline on point buy downs.Good luck shopping and let me know if you want to talk further!

I’d say if you did 2 or 3 smaller MF deals on your own and they went well, I’d say you are qualified to raise capital to buy properties similar to what you have already bought yourself.2 or 3 smaller MF deals does NOT qualify you to raise capital and buy 150 unit deal.I believe in step by step progress slowly and consistently working up the ladder towards bigger deals.