If the property contains three or more units, the affordable housing mitigation fee for each unit shall be capped at 8 percent of the sales price of the unit.  

You can certainly get started with roughly that amount and house hack using the fha loan to put down 3.5% percent and try to get your closing costs paid for...I'm currently in escrow with a client purchasing a multifamily with around that much down payment and we got closing costs covered. 

A better route that I utilize (again depending on credit and size of the project) zero percent credit cards.

LTVs are different because of COVID, so you should expect between a 20 to 30 percent down payment for the purchase price, and then potentially you can get the rehab 100% funded.

I would much rather have a hard conversation and clear expectations over a lifetime of resentment.

Two members contributing $30,000 apiece would each receive a 50 percent stake in the company.In your example the non-cash member would need to work out percentage of ownership with the funding member.

Then you wouldn't even have to put the 3-1/2 percent.

You could likely get 150k at 3- to 4-percent, interest only on what you use.Whatever you do, don't wait for a market turn.

You can make way more than 9-11 percent in methods that involve way less time and worry.

Borrow at 4 percent to make 10+ and keep the difference.