When considering refinancing, also factor in the closing costs of the new mortgage to determine if it actually helps you.

Us: We want to buy the property, fix up the (3) apartments not occupied by her parents to generate rental income.QuestionsMy thoughts are to work out a deal where we purchase the property from her parents without taking a loan from bank.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

Purchase price: $68,000 Cash invested: $70,000 Sale price: $195,000 I purchased a long-term rental property from the MLS that had multiple contractor issues and significant delays.

The best I've seen for STRs is 80LTV on purchase and 75LTV on cash outs. 

Determine your maximum allowable offer (MAO) based on your investment criteria.

I would like to purchase a 4 unit building in NKY in 2025.

Quote from @William Dorrough: I currently either purchase and value add large scale multifamily properties or develop, and build ground up my issue with scaling is we have done this without brining in investors i have a great deal flow with a good track record im really looking to do more i have the capacity but have the need for more capital in one way or another  Scaling without investors can be tough, especially in multifamily.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

That would determine if its your property or just the market.