That nice $7500 month reservation would put you at 90k gross per year for this one property so it's a one off. 

Don't forget to keep reserves for maintenance and capital expenditures.You can also use the FHA loan, which allows you to put 3.5% down on this property as well.

Ed like @Karl Hinkel it's possible but rare. we've funded a deal with these types of terms but i've been in RE for 4 years with plenty of income verification. if you don't have a good w2 job, cash reserves, or the deal isn't that great they will pass on it.

Lenders also require a number of months of “reserves,” which is money that is set aside for so many months of principal, interest, taxes, insurance and HOA for *each* property.If I were doing a deal like this, I would start with smaller lenders that are local to the properties.  

I've got an out of state turnkey property in the Midwest that's producing roughly 13% Coc (after management and very conservative reserves), and it's appreciated by about  50% in two and a half years. 

@Sofia RuanoIn a scenario where the property may not be the best and cash flow is not strong, an experience borrower with a large amount of their own cash in the deal and available in reserve is the only way to attract financing

A good chance to get your capex reserve fund up there. 

Do smaller multi-families typically get valued based on NOI/Cap Rate or is that typically reserved for larger apartment complexes?

I wanted to take a moment and a get a pulse on what everyone thinks is a "safe number" for liquid cash reserves (aka your rainy day fund).

Making reservations today.