At that interest rate, is there a reason you wouldn't just put these expenses on a credit card or do credit card cash advance? 

Seems like I am having a problem because I'm a recent high school graduate  Please advise how to buy a multifamily home under these circumstances. 

But with COVID and higher rates I know a lot of banks/credit unions have cut back on some of their products, so I guess PenFed did too.If you are based in FL you can try Space Coast Credit Union.

Agree with @Joe Funari - we only work with local/community banks and regional banks - they are quicker to respond, take a personal interest in partnering with your real estate business to see it have success (which makes sense, because they want you to make good on your loans), and offer much better rates than hard money loans - we don't pay any origination fees, they can even fund in less than 30 days, and interest rates have never hit double digits over the past 2 years.  

I do have two buildings that the water is on a flat rate fee.

Very limited information is being communicated by sponsors, particularly those that used high leverage variable rate loans to acquire in 2021-2022, so LPs are commonly feeling left in the dark.

I make secured and unsecured loans Loan amount: $2,000.00 – $20,000,000.00 Loan duration: 6 months – 30 years INTEREST RATE: 5.95% ANNUALLY Loan purpose: ALL Loan Type: ALL LTV: 85-95% NO PRE-PAYMENT PENALTY, FAST AND RELIABLE FINANCING.

Their fees/rates are usually better and the service more personal.

Also, if I were to start while in school, are there any preferred areas in St.

Single-Family Home with a Basement:Pros:Familiar single-family living with potential rental income.Can be a good starter home, quieter living if the basement is well-soundproofed.Potentially lower initial investment compared to a duplex (depending on renovations).Cons:Finding tenants might take longer, especially if the basement isn't a fully formed apartment.You'll be responsible for all maintenance and repairs for both units.Less separation between your living space and the rental unit.Multifamily Duplex:Pros:Clear separation between your living space and the rental unit.Potentially higher rental income with a full, separate unit.Faster tenant search as it's a more traditional rental format.Cons:Might be slightly more expensive upfront than a single-family home with a converted basement.Potential for noise complaints if the duplex isn't well-built.Dealing with potentially two sets of tenants (though vacancy rates are typically lower with duplexes).So, which one to buy first?