I'm agent in  kentucky and california, finding a deal between 7%-10% in single family residential in louisville, Ky is the norm, in california you can expect closer to 3%-4%. 

There are also a couple boarding schools and private schools in the area that bring in wealthier families for visits. 

what I was thinking I can do is move my family into the empty unit after the lease is up and attempt to furnish the unit I live in currently ...

Lately, I've been torn between investing in multifamily or single-family properties.

Explained the situation and he said it may be a challenge to get another conventional loan (investment loan is being considered as well but; Family loan = plan A, bank loan = plan B).We want to keep the property we live in now (since Oct 2023) and rent it out when we leave.

Short Story: Started LLC with a partner(family member) with the intent to begin our joint real estate venture.

I'd also suggest a single family home house hack in a better neighborhood and renting by the room short or mid term.

I'd let the funds season in my account and then use those funds as a cash down payment for commercial loans and conventional multi-families properties.

The only way he will obtain a loan is to get financing from friends and family.

I am actually looking in Decatur as I'm seeing some single family homes in the 200k range, even some fixed uppers slightly below.