There is a local loan program, I believe it is called the MCT loan. 

Somewhere in the middle is likely your best bet for a 20 year timeline.I have almost 50 units here myself and that's about what my portfolio is cash flowing at this point combined LTV is around 65% as loans have gotten paid down and values have went up.

Hello all,
I'm looking to buy my first multi-family. I have a large lump sum saved in an investment account for down-payment and any additional costs. I currently have no debt and make under $100k a year. Because of ...

Here’s some guidance to help with your next steps:Hard Money Loan: Hard money lenders can often cover both the purchase price and some rehab costs (up to 70-75% of the after-repair value or ARV).

Kieran, the best bet here is to refinance with a DSCR loan.

You can buy a rental house, put $60,000 down and you will have to get a non-recourse loan for the rest of the mortgage.

Experience depends on who you deal with - the cleaner the loan file and more organized your paperwork the smoother the process with any private lender.

If the loan is being paid the seller/previous owner has no reason to want off of the loan.

Is the loan assumable? 

so you're recommending that my starting point should be finding a real estate agent, utilize theirbknowledge to learn about the process, and get referrals for good loan officers.