Do you have a preferred type of property and price range you're looking for in general (knowing the costs can be different based on they market)?

Purchase price: $310,000 Cash invested: $50,000 Big Blue - 2 units fully rented, 1 with section 8 tenant and 1 unit being used for short term rentals What made you interested in investing in this type of deal?

A 4-plex would be ideal and you could play around with doing 1 long-term, 1 mid-term, and 1 short-term, plus you, if it works on your area to upgrade your income.

You'll quickly learn how to manage investments well, which property types and neighborhoods work best, and more.

However, it sounds like you are confused about the different types of auctions that exist on Auction.com. 

So while it's not as ideal as a multifamily property, it does present a solution for those that are in the personal situation where they can. 

I'm not very intimate with the markets to the north and south, but I would start looking at price to rent ratios and decide what type of rental type and terms you want to invest in.

Fascination in one type of market has led me to another, real estate investing, and now I'm looking to leverage my ability with numbers in the REI space as well.

Quote from @Miguel Del Mazo: Knowing more about the area, it sounds like you'll have an ideal avatar of wealthy, young and trendy professionals that aren't ready for or looking for a home to own.

I would rather not go to multiple lenders trying to figure out who does what if someone on here has had good experience with a particular lender already that does this type of loans.