They each signed a 9-month lease at our existing midterm rental rates.

From my estimations considering vacancy rates, cost of maintenance etc - I would be at a cashflow negative of around 1300 - 1500 dollars per month.

-Time to Lean into Interest Rates.

My first rental, and I will have a very small cash flow (Thanks to high rates and high prices, but I took the plunge and decided to get into it anyways to build long run wealth).

I was looking at doing a garage conversion and found the estimated cost of about $100,000 would be only returning a rental rate of $900/month.

However, the house is in a decently rentable area and I refinanced during the low rate days at a 2.615% rate.

This would be my first multifamily deal so I was curious how much I would need to put down and what kind of rate/terms I could expect?

You will also need to qualify for a loan, which means you will need a credit rating that qualifies for the loan, and a work history like qualifies for the loan.

Keep in mind that rates are higher than they were 4 years ago.

Financially it's almost always better to leverage but less so in higher interest rate environments when there are good investment alternatives, and not everything in life is or should be done for purely financial reasons.