I'd recommend either going for a legal 3-4 flat or a 2-flat that is duplexed down or up.It's a good idea for your agent find out if any of the units are "non-conforming" or "illegal" before you take the time to show the property and make an offer.

He recommended a DSCR loan instead but the fees seem high ($55,500 to close).

If you have any recommended lenders, it’d be greatly appreciated!

You have some other recommendations in here, but feel free to reach out to @Kelli Bonner too.

Looking for anyone who has recommendations on a GC in this area (New Albany technically)?

Do you have any contacts or recommendations where I can find these folks?

@Clark HagenI believe the mortgage would deed the house to you and is just seller financing and a contract for deed you don’t get the deedDefinitely want the mortgage and my recommendation would be to use the Fannie Mae templates docs (mortgage and note) which you can get online.

Can someone else recommend a similar low cost product that will hold up better in rentals, that looks like hardwood-ish?

Hello!  I currently own three single-family rentals and just closed on my first multi-family property, a fourplex.  My properties are in three different states and I use local property managers for full-service manage...

In general, I'd recommend getting your first property as close to you as possible.