I just chose this b/c of a meetup, and it's close enough that I can actually see the area and homes on weekends.

In my last post I discussed using Fannie Mae's delayed financing exception to allow for pulling the cash back out before the typical 6 month seasoning period, and in the comments @Steve C. led me to a post outlining a different approach using a LLC-to-personal loan (see https://www.biggerpockets.com/forums/48/topics/460294-how-to-cash-out-1-4-unit-property).

FHA would be a good choice if you want to pay as little down as possible, but if you go conventional, you'll save some $$ b/c of lower rates and no mortgage insurance.

@Mike Dymskijust to clarify i am talking about a low income are, class c or maybe its even a class D in my opinion 90% of the people in such areas do not have savings the reason why i would consider the lady with less than 2 times the rent.Frst of all she has all the money ready and seems to be very responsible, i have rented to numerous tenants in the past so i can tell even such a small thing like filling in every small detail in the application {my application has a lot of questions some that most see as irrelevant}. she also has an old car unlike most that buy or lease newer cars just shows how responsible she is, and she seems to be very nice {dont jump on me, i know exactly how it can turn in to lol} AND she has an excellent credit history and that says a lot!!!

Typically you need to own the property for 6 months before you can refinance not 3 months and ARVs on C or D class properties can often come up way short of what is anticipated.

Appreciation likely.East Hartford Mostly a B/C class community.

@Maria Crenshaw My very nicest spiffiest "A" properties are in a "B-/C+" neighborhood and most of my properties are in C/C- with some in "D/D-" neighborhoods so perhaps my advice will not apply...

Assumptions in general (case by case, but this is typical)- Rent $ amounts collected from Rentometer - amount based on interior finishes, potential amenities- Vacancy at 5-8%, repairs 5%, 10% cap ex, 10% property management  - are these usually higher in C class areas?

They asked if we could install central a/c & they offered to pay the extra for it.

Multifamily under 100k in Columbus means duplexes in C type areas, anything distressed in a reasonable area is pretty rare, our market was picked clean as of right before COVID.