Keep in mind though that there are plenty of ways to finance a deal without traditional lending. 

In any case, you can get traditional financing on a 2/3/4 unit that you're living in one of the units, you get a waiver from some of the fair housing act stuff on your first place that you are living in. 2.

That lets you qualify for traditional financing, and you can get first-time homeowner FHA on something like that such that $20k might be all you need for a down payment (or less).

You could also look into non-traditional lending options like hard money or private lenders. 

@Rich Solano being prepared and having patience especially if renovations are going on.

If you have not, great books to read are:•Rich Dad, Poor Dad•The Millionaire Next Door•Cash Flow Quadrant •Tax Free Wealth•Set For Life•Rental Property Investing•The Millionaire Real Estate Investor•The REAL Book of Real Estate •So Good They Can’t Ignore YouYou are more than welcome to reach out if you have any questions.

After a second read through of Rich Dad, Poor Dad about a month ago, something clicked this time with me and opened the world of real estate investing.

It can get frustrating when 300 people ask the very same question and expect some step by step how to of making easy riches - what the gurus preach to fleece the desperate of their cash.Additionally, wholesalers often take large portions of seller equity because the seller is naive, lied to, or some other reason.

For a savvy buyer a mini-split will have higher value than the traditional system.

You have to get a good deal of course and this financing is way easier than traditional financing.