Yeah, after talking with a few other folks it sounds like it’d be more prudent to keep it as a rental only using conventional financing.

However, it was close to a convention center so I know location does make a huge difference for short term rentals.

Conventional 20% down 80% financing mortgage.

We had the cash but not the income, so we used a conventional loan, 80 LTV 30 year at 4.12%.

Right now I am unable to pay cash so I will have to get a conventional loan.

I came across a property that is right now for sale 200k 13 unit property, and I came to about 4-500k all in with repairs and renovations I would like to purchase this property but I know my funds would come up just shy of being able to afford this if I went the conventional route.

Going forward, stay away from conventional lenders and the SBA with hidden fees.

The apartment is in good condition, with wooden floors and a standard kitchen.

Also any questions you'd be asking yourself would be a big help too.Additional context:- buy and hold w/conventional 5% loan;- refinance w/in ~24-months > move and repeat processThanks in advance!

Tell the loan officer what you plan to do, what type of down payment you have, and what kind of loan you want (conventional, FHA/203k (house hack) etc.).