Are you looking to hold on for long term appreciation while getting some cash flow or are you looking into other potential investment ideas?

I am interested in exploring renting it out long or medium term.

You should be able to get a 30Y DSCR loan under a 100k as long as the property value is 100k+.

Hello Ilya,Where are you looking at purchasing your 1st property.When converting a property from a single family to a multi family, you will need to check on the zoning requirements, depending on your location, not every location has zoning.As far as lending goes, it is far easier to finance a single family up to a quadplex, than financing 5 plus units, the DSCR Market for 5+ units is extremely low right now, and there are few if any lenders in that space.For financing 1-4 units, there are Millions of dollars chasing those loans, so you can easily obtain long term financing, at rates between 5-7%.Please reach out if you have a property identified, and I can help you with financing options.

Would prefer longer term loan 60 months or so but can do short term also ie 12-24 months.

When you can buy properties like this, you can get almost 100% of your money out of the property, convert the property into a long term rental loan, with a DSCR Loan (Debt Service Coverage Ratio) where we as the lender look at the property and if it cash flows, and that is expressed as a ratio, for instance if your Total Loan payment including Principal, Interest, Taxes and Insurance was $1000/mo, then you would need a rent of $1200/mo and you would have a 1.2 DSCR Ratio.Here is an example of a cheap duplex https://www.zillow.com/homedetails/732-Broad-St-Menasha-WI-5...

I've done these deals and we have been able to renegotiate price and terms late in the deal, all while my client's EMD is fully protected either based on an inspection period or based on lack of disclosure. 

Much better deal for you in the long run. 

However, lately, I've been researching co-living and short-term rentals, and I believe the property would be more attractive with a restored pool.

Hi Ruth,For STR (Short-Term Rental), MTR (Mid-Term Rental), and second/vacation homes, DSCR Loans (Debt Service Coverage Ratio) are often the best option.