@Lawrence Eiseman - right now where the market is, and where the rates are for conventional financing, I like getting 30 year fixed mortgages on 1-4 unit properties.

,@AJ Cole might be a guy for y'all to get in touch with to see what he's got in inventory.

I’ve just done boring 20 percent down conventional financing so far.Do you have a day job?

However, inventory remains in incredibly tight, with only 1.5 months of inventory in Austin and 2.2 months in the greater Austin area (a balanced market is 6.5 months).Steve Crorey, 2018 president of the Austin Board of REALTORS®, said, "Historically, it’s common for some homes to be on the market for 50 days or more, even in markets with strong housing demand. 

@Buddy Holmes, There's not a hard fast convention. 

The multiunit inventory in these markets is so thin that I would not put much weight on the market CAP. 

The current plan is to get a conventional loan in both our names, take over 1 unit (to qualify for owner-occupied) and put down 5%.

Have you gone to a conventional bank for them to review your financials to pre-approve you? 

You can ask a family member for a loan, but some lenders will require that amount to be sourced once they see a large deposit in your bank statements.By the way, if you're ever planning to keep a property (i.e. the BRRRR method), always get pre-qualified with a conventional lender first to make sure that you actually can do the refi, otherwise you'll be stuck in a hard money loan. 

You should be able to qualify for 3.5% down FHA or 3% down Conventional.