Finding financing for multifamily properties in the 5-10 unit range typically means local banks and credit unions, or small balance commercial lenders.

In this particular example we put the deal under application underwriting to a HUD exit with a great execution bridge lender who we have closed with in the past.

So in this case if you closed the purchase with a DSCR loan, assuming a  Straight 5 Year PPP structure, On year one if you do a Cash Out, the DSCR lender will penalize you with 5% of the loan amount for paying off their loan early. 

Here is a list of lenders specializing in these kinds of loans:https://www.biggerpockets.com/member-blogs/2810/50272-list-o...

Each lender has their own standards or parameters, such as draw period, FICO required, whether it is interest only or principal and interest, whether you can lock a portion of the HELOC or it is all floating interest rate, etc.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

For next steps, I would highly recommend you get in contact with a hard money lender and get your lending in place so you can start making offers.

I'm a lender that does a lot in KC but can also help in TX and other states you've considered. 

@Martin A Phillips I would talk to other local investors and see what title companies usually handle transactions with hard money lenders.

When I was talking to a lender today, he mentioned that if closing a property on LLC has no leverage or adds value to pre-approval.