@Treza Edwards sounds like the terms from a community bank in your area, is that right?

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

My Property Manager isn't sure how to handle this, either, so I thought I would ask the community. 

Quote from @Nick Wimmel: Hey BP Community!

We’re weighing whether to leverage our funds by putting 20-30% down and financing the rest, or to buy properties outright in cash and then pursue a cash-out refinance.I wasn’t previously aware that each person in a household can have up to 10 mortgages under their name.

There are a lot of ways to crash and burn, so increasing the odds of succeeding long term should be your highest priority. you can always sell your local assets once you're comfortable managing rentals and ready for a market that better-suits your criteria. btw, kudos for being self-aware of your limitations.

My goal is to build a comprehensive resource that not only answers key questions but also provides clarity on the entire process.The draft is based on my personal experiences working with clients, but I want to ensure it reflects the broader community's insights.

Not to mention, they weren’t aware of my entity information and other organizational details I’d previously sent (ie state formation, scope of work, etc.); easy stuff.

Working with the city to find a solution.There is a similar situation near me where an investor bought a short term rental house, rehabbed it, ran it for a while, and then got in trouble with the town after a neighbor complained and the town said short term rentals weren't allowed in the community. 

We have had rental properties where the HOA had a community pool, that was ok with me.