My loan officer is telling me that the lowest amount I can put down for a 4-plex in non-FHA financing is 20% for a conventional mortgage.

This was a very nerve-wracking time being that the market was very unsure of the future and rates went up and down like a boat at sea in a storm (my loan office jokes with me to write "Bought a home when Covid hit" on my resumé).Jokes aside, my wife and I were scared that we were buying a home at the worst time since no one seemed to be in the market to purchase a home.

We got this from our loan officer;...we are still in the process of finding an appraiser to do the appraisal.

I have thought to maybe try and rent out this house as an office for someone or maybe to a equipment company that is looking for a place to store some equipment. 

But they have their own living room, kitchen, bathroom, bedroom, office - it's a completely separate space in practice.

Office, industrial, Multifamily, etc?

You might have to get more micro in your search and look for a more off the radar type wholesaler who would literally let you shadow them at their office (assuming that's what you meant).

Your loan officer is correct….but it is your choice. 

Was told by my loan officer Josh I’d be closed in under 5 weeks if the appraisals came back.

This is so amazing I actually went to my office to reply from a computer.