I bought a ten unit. 

However, your question is about whats better local banks/credit unions or big national brands.

Whatever you do pls take care of it and take it to a architectural reuse store its cool :)

But that is very tight...we just bought a very similar property but were doing a 1031 with considerably more capital...I dont know everyone says dont wait for a market shift to buy but i dont see how it makes sense to keep investing unless you have a ton of capital...

Also unless everything is brand new, 5% is low for CapX, typically I budget 10% for CapX since they are inherently expensive items.

@Sean Ade I always understand the condition of the big-ticket items prior to submitting an offer and take that into account in my down payment.For example, if bought the 4-units for $220,000 with a 25% down payment - $55,000 - and that is what I based my returns on.

@Anthony Nguyen, I am brand new to the idea of fix and flip and am looking to do my 1st one ever (ie - still looking for a house to fix). 

Bought this straight cash.

We bought foreclosures on the courthouse steps for 2 years with a private lender. 

Probably overpaid for the home furnishings, but wanted the no-hassle so bought it furnished.