There are a ton of local banks around me that offer owner occupied low downpayment loans but are portfolio lenders for these types of products meaning they hold the loan in house.

They're setting a market in a low transactional/low liquidity environment.

Rental prices are also bananas here and vacancy rates are super low, so whoever turns this block into apartments is going to do very well. 

There’s about 8 communities in my primary target area in New England and they’re all considered to be extremely hot real estate markets.

I am in the process of exploring financing options for my first deal and I came across the idea of government down payment assistance grants.From what I read, these grants can be used to cover the down payment on a low money down loan such as FHA loan, which I was planning to utilize anyway since I will be an owner-occupant.Has anyone used this in the past?

Here are a few key things to keep in mind:Understand the program: Section 8, also known as the Housing Choice Voucher Program, is a federal housing assistance program that helps low-income families, the elderly, and people with disabilities afford decent, safe, and sanitary housing.

The bank has been extremely difficult to work with up to this point.

There are not many multi-family options available in my local area, and the ones that are available are overpriced or the current rent rolls are extremely below market average($200-$400 per unit).

It's probably one business that just only sees some massive spikes, and almost no lows but rather steadiness.

By the way what market are you in as those prices are very low.