@Zeliang Zheng I don’t know how many units you are looking to get into but I’ve got an 8 unit building and a 5 unit building that have given me plenty of confidence to go larger when I find the funding.

Not a high cost of debt/capital at all, so we are not concerned about the balloon payment.Regarding long term goals, we plan on building slow and steady over the next 10 years, but then have them all paid off within about 20 years for retirement income from the rentals.

Start building your real estate team, join if you haven't already a local real estate investing club, watch your market to see what is selling with what features, and track what properties and areas are in demand.

We are purchasing a 6 unit Apartment building in a small central Texas town. 

A 24-month loan would be preferred so you can build up the last 12 months of cash flow for the property. 

I am hoping to learn from someone with experience in the industry and in turn help them out.

I now want to look into "flipping" new construction or spec home building.

Looking into single family houses or multifamily, as there is an actual land that you own and potentially build ADU/DADU in the foreseeable future.

"Old" ones are with the previous theory of build 3em to last and to be repairable.     

Unfortunately the rates and terms they charge are so high that they priced themselves out of the industry.