I am attempting to put down less than the typical 20% for an investor loan. 

Pay it down.

Hello,I am relatively new to real estate investing as I purchased my multi-family building in Chicago back in 2021 putting in twenty percent down of the purchase price.

Lot of readers on here that want to buy houses with nothing down or close to it.

Sellers right now are competing with new construction with rate buy downs and cash incentives.

I'd drive around the and find a few multifamily communities that you could see your self living.From a financing perspective, new agency guidelines are allowing for a 5% down conventional loan product on properties less than four units. 

Then once I’ve narrowed it down to my top 2-3 choices I have the 1st one do background checks/credit checks through MySmartMove.com.

I am risk averse and if I were to purchase, I would tear down to the studs and do a full rehab {this would include getting rid of asbestos shingles and insulation).1) I have done a ton of research and it appears as if getting rid of asbestos is very DIY able assuming you spend money on the safety equipment and use it properly. 

Currently, appraisal work is significantly down, since the refi's are generally non-existent as many homeowners refi'ed when rates went very low during the pandemic.

Keep in mind you can always sell it down the line if you want to.