This way you're able to utilize conventional loans, each of you are allowed 10 of those.

Conventional financing.

The asking price is $375,000, which includes all inventory and FFE.

For now all you are going to see is more of the same because the vast majority of inventory is being held by people with 4-sub 4 rates and they can't/won't want to afford elevated prices and 6+ rates.

This can provide additional capital for future investments and get the next one.Or evaluating other loan options:Depending on your long-term plans, you could explore conventional loans or portfolio loans that might offer more favorable rates or terms with the new appraisal value factored in.Your decision depends on your broader strategy.

Here in SoCal I am very high on Chula Vista, Bonita and SDSU in general especially with the conventional center under construction.

Sadly there is so little inventory that many are simply trying to last as long as possible and wait for the constable to tell them that the moving trucks are here for them. 

Once stabilized, you can refinance out of the hard money loan into something more conventional.

The loan info (hard money for acquisition; conventional for refi) is from actual conversations or emails with lenders. 

If I am in your shoes I would buy 2-4 units, get a conventional loan, ask the sellers to pay for the max contribution (3%) towards closing costs.