We also learned to lean heavily on the government assistance program that we contract with (2/4 of our units) Once we learned the ins & outs of their program it made communicating with our inherited tenants much easier

The HPAP loan is: The HPAP program is a 0% second trust loan that is deferred and is NOT a grant.

Low income is not a bad thing IMO as there are state aid programs that could "guarantee" your rent payments, i.e.

The community offers a financing program, however the interest rate is super high.

The problem I have is there is a good chance the certificate of occupancy won’t be issued in the 180 day time period.

The smart combination of buying at a discount, adding value, and then using leverage once the asset is performing to pull equity and launch the next project is just a very good formula when executed well.Be sure to start by reaching out to non-recourse lenders to learn about their programs. 

I was able to get $20k in down payment/closing cost assistance through a program called Neighborhood WORKS, they held a 2 day event back in May 2019 that awarded $20K to 300 families on a first come first serve basis.

I was able to get $20k in down payment/closing cost assistance through a program called Neighborhood WORKS, they held a 2 day event back in May 2019 that awarded $20K to 300 families on a first come first serve basis.

Bottom line: the people that have been taking advantage of these programs will be hurt the most as landlords will not rent to them in the future.Full disclosure: during this whole eviction moratorium, we only had one person that we "evicted" due to non-payment. 

I spoke with a traditional lender the other day from Total Mortgage who said it would be difficult for me to get any kind of financing outside of a traditional 20-25% down investment loan, because I don't have a credible reason to be buying another multi-family outside of investing purposes.What is the simplest way to make a second purchase utilizing the 203k loan program without running into issues in underwriting?