All while doing this, I would love to develop an impressive successful invest property portfolio for future long-term wealth (NOT get rich quick).My grandfather (who originally owned the masonry company) was also a fireman at one time he owned 26 properties which later down the road sold half to his son and the others to my dad.

This is not a get rich quick scheme or a scapegoat from college.

After reading "Rich Dad, Poor Dad" I learned to consider thinking another way.  

Flood Insurance rates from the National Flood Insurance program (NFIP), the traditional flood coverage from FEMA, have been rising and will probably continue to rise.   

@Vinh Nguyen Traditionally, it actually refers to the cost of purchase plus any repairs.

We would also qualify from an income standpoint for traditional financing for both properties, but cash for downpayment is the issue as 25% down is required for 4-unit building. 

However, the seller knowing my specialty, countered asking me for a proposal with more upside for the seller or to do a rental arbitrage.My initial offer was a 5% upfront cash payment, 15 year repayment plan at 4% interest and attempt to refinance within 7 years to repay the seller in full and secure more traditional financing.  

Here is what they explained that some of these cash offer are doing and I'm needing clarification if this is accurate and if it is possible:- You can get a loan from your investment brokerage for up to 50% of your investments (not sure if this was IRA or traditional account).

It will be hard to secure a traditional loan without enough income to keep your DTI ratio in line with the requisite thresholds.

When investing out of state and getting a traditional loan, do I need to use a bank local to the investment property?