Generally there are three categories of multifamily investment properties – which will greatly determine your loan options.These three categories are based on the number of units at the property.2-4 Units: While these are “multifamily” properties in the sense that there are “multiple units” – you will generally have very similar options for financing to traditional residential loans on single family rentals – think the traditional 30-year fixed rate conventional option or DSCR Loans – and the coveted 20% down payment option too.

The interest rates are high now.

I learned all of this from a now defunct group in Berwyn of old-school building owners.

My only challenge would be the occupancy rate.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

So this may result in a higher interest rate. 

In the Midwest you can expect to find 2-3.5% cap rates, appreciation makes up for the rest.

Knowing that market rates are in the high 6s at best, and much higher most likely, I would be looking for at least 6% interest. 

Quote from @Nick Bednarczyk: Reminds me of what we saw in the 80s and 90s when we refied into 5-6% rates when we had the chance. 

He’s probably going to end up going to a trade school, get a real estate license, work with a local contractor to become a building contractor.What are your thoughts about buying a property early in your life?