I do rehabs in San Diego where my purchase price is usually from 900k to 1.3 million and I try to make 20% of the purchase price per deal and try to do 5-6 deals per year (if I can find them which is becoming harder).

How do you find foreclosures for your clients?  

Lenders:Several lenders offer investment property loans in Columbus:- LendingOne: Provides short-term mortgage loans for property purchases, refinancing, and rehabs- Longhorn Investments: Offers hard money loans for Columbus real estate investors- Longleaf Lending: Provides 30-year rental loans for long-term rental property investmentsFor BRRRR and fix-and-flip strategies, consider hard money lenders.

Hey @Michael Lee, we just completed another six-plex loan in NY last month with similar terms for our client.

@Abigail Irvine so you don't show enough income to qualify for an owner-occupied mortgage, so that leaves DSR loans on rentals as your only option.At the minimum 20% down required on DSR loans, your $20k barely gets you to a $100k purchase. 

The property is located in Denver's finest neighborhood, and the purchase was financed partly with my savings and a hard money loan that included provisions for construction costs.

I just purchased a 2nd rental property last week with this same LLC.These 2 rental properties have total equity of about ~$1.5M (both are owned outright).

Second, having $40k and trying to purchase a multifam in NYC is not going to get you far. 

Being that you are in the bay area, if you wanted to purchase an investment property with 20% +- down, then you may want to look into a cheaper location to start with.

The Larger homes tell a different story, these are more expensive purchases but allow for large groups to travel together and more importantly for you,  split the bill together.