Hi @Renata McCulloch & @Cameron Sigurdson to get a good quality note you should be prepared to have more like $50K available, although your IRA can partner with another party to combine funds to take down a note via joint venture.

We are especially interested in multi-family homes.  

I'm new at this but looking at multis and the first thing that caught my eye was the pro forma numbers.

If 2 party's sign a lease (contract).

You need cash, probably 20-30% down.It is unfortunate you already spent your money on a personal home, it is a liability not a investment and will hold you back from investing.Shane has the right idea except I would sell the house and buy a multi plex and live in one unit.

The terminology "foundation repairs" or "Retrofits" is generally used to describe "Proprietary Foundation Systems" for MANUFACTURED HOMESHowever, If you're not dealing in MANUFACTURED HOME transactions there's no need for you to take the time to view the video.

Trying to acquire lending for two multi-family homes.  

What kind of cap rates do you see for multis in those better areas?

we're  pre-qualified for our next purchase but not sure if it should be another single family or multi family unit.

Personally, I like the BRRR strategy on a multi if you're willing to put in sweat equity.