I would go architectural shingles as it is a much better product, for a moderate price increase.

@Jem JacalaI believe AnnualCreditReport is a consumer product designed to let someone pull their own credit, not others.

It is relatively cheap and considered a good product. 

Most traditional lenders don't offer this type of product.

Link below has the general terms, and your rates, loan terms and  LTV's will be MUCH better that hard money.http://www.freddiemac.com/multifamily/product/pdf/...They will lend nationwide.

The valuation of the property will be based more on income production if it is 5 or more units and valued more like a SFR if it is 4 units or less.Are you planning on using a bank in Iowa? 

Some of the new engineered and laminate products can be very good; but to me there's a real quality difference.

If someone buys a brand new product built in the last 5 years states away in a high end area with affluent type tenants then it might work.Marginal areas with older buildings and challenging tenant base it does not.

@Nick YanutolaBecause mortgage interest is of a lower percentage cost than the opportunity value of cash it is counter productive to have equity lying dead in a property.

The BP forums and podcasts have been a wealth of information and knowledge and I look forward to becoming a valued and productive member of the site.