These investors may be able to provide you with the names of contractors and vendors who have proven track records of providing quality work at competitive prices.Another option is to research contractors and vendors online and read reviews and ratings from previous customers.

This was what I struggled but finally did it.I am looking for the next one but getting harder in Austin, too competitive!

That's very competitive.

@Diane Valencia I have several Out of State investors who have needed to move their rentals from USAA as they are not competitive on these policies. 

In this competitive market, everyone is competing on a level playing field and at the end of the day it'll come down to who you're most comfortable working with.

Unit sizes, unit rental prices, current occupancy, competition in the area, condition of the buildings, taxes, etc etc etc.. 

They are sometimes easier to obtain though and interest rates can vary to being competitive with a bank to as high as a HML.Hard money lenders are a good way to get started but the rates and terms can be very steep.Hope this helps.

Make sure you have a realtor that can evaluate comps and make sure the numbers work for you.You can always refinance at a later time to remove the PMI, especially if you add value to the property and increase rents.Conventional multifamily will typically require 15-20% down and rates aren’t as competitive as FHA.

Hello Paul,First of all I think the Colorado Springs market is an excellent place to invest, but there is also a lot competition that comes with the territory as an agent.  

Because most lenders will require a minimum DSCR of 1.20x this loan is eligible for competitive financing.For example, NOI of $500,000 with debt service of $400,000 would equate to a DCR of 1.25-to-1