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

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

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

Try and create a kinda protected, intimate setting for possible family or close friend or really studious students or hospital interns.

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.

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

We're hoping to do seller financing when we buy our first rental investment property, so I'll be hand-writing letters to long-time owners of rental properties (mostly single family or small multi-family).

Investment Info:Single-family residence buy & hold investment.

I am exploring Carbondale IL for multi family Investment and lookin for some feedback.