But I would love to learn as much as I can in the meantime. 

Do your research on the property, find out as much as you can. In

If the deal is fat enough and packaged properly, you won't have any problems finding money.Also, like Levi says, you need a narrow, but deep approach to marketing (not a bunch of superficial trials), then, continue to optimize the same approach. 

My plan is to start with a house hack fourplex before attempting any 5+ apartment complexes, however want to keep learning as much as I can in MF space.

These are 12-18% lenders, with nice fat points.

It's also been well established in lending that Asian borrowers tend to live on much less than us fat, must have it now type Americans, savings is generally higher, just saying, don't apply your personal expectations as to your life style on others, stay neutral and see what their life style is through general conversation.I'm not trying to push you toward accepting these folks but skimming the top with ratios and assumptions may lead to losing very good tenants.Those pets probably won't cost a hundred bucks, my two monster dogs were only a hundred bucks.Again, how long is this situation reasonably expected to exist of relying only on the royalty income?

Let's all assume that there is the potential in this house to build very good equity and that I can, in fact, buy it for somewhat less than market value.

@Bill F. at the end of they day, setting your goal is setting your goal. 

I have been doing my due diligence for sure on this, hence my post to the forum as I’m sure there are knowledgeable investors out there like yourself that can assist in me making the best and most educated decision I can.  In

Thank you, makes sense, I know I can pick up a 4 family much cheaper in a rough area then I can in better areas, very tempting, if I can a good PM that has experience dealing with MF in bad areas, then this is KEY otherwise not worth the headaches to me personally unless I have  great PM with experience dealing with MF in these rough neighborhoods.