@Lindsey Iskierka with a commercial loan or portfolio loan, I'd imagine you'd be looking at minimum 5% interest rate, and with even small multifamily the "60%" can apply, so it sounds like negative cash flow of around $1500/mo.  

that is a hard question .cause big and old ones have sometimes more members and small have few but controlled .you will have to try to go to both . i would . you can always find different people that you once thought you would never need .Hope this helps.

It is a very small duplex, with one unit on each side.

@Keith Torsen sorry for the late reply, been running all over the place last two weeks.

I'll have to look Grafton up on the map (so many small towns out East!).

Thanks for reading about my small success!

It's a small house, about 760 sq ft. 

Inventory for small multi units is very low right now in north Chicago.  

Our specialty is small business (1 - 10M in revenue), but quite a few of my clients own investment properties and we are quite knowledgeable about RE and partnership tax law.  

I'm a newbie...anyone have advice for the pro's and cons of these small loans or anything to be on look out for?