Hello,If there are 2 joint owners, can 1 joint owner transfer their interest to another family member without the consent of the other joint owner?

It might be better if you could try to save up for another down payment for a second building and do an owner occupied 3.5-5% down payment and move into a 2-4 unit and keep the 1st property because I really feel like you’ll be very hard pressed to find another deal that will cash flow that well again.

With the same money you might spend, you would do better with a flip and hold.I’ve found that San Antonio is great for owner occupied and fix and flips (holds).Contact me if you’re in town.I wish you all the best. 

Plus owners of houses that are distressed are usually more willing to accept creative deals.

Ideas for getting in front of property owners: SEO, BatchLeads, PropStream, Deal Machine, Ball Point Marketing, local meet-ups to network, etc.

Owner occupied (multifamily) is another great way to get started.

Some things to consider:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available

FHA loans, for example, have modest down payments and are appropriate for owner-occupied properties.Learn about the local real estate market trends.

But when I call on these, probably 40% are disconnected numbers and another 30% I end up calling people that have no connection to the property or owner at all.

I know this is 3 years after the OP, BUT FNMA & FHLMC raised the LTV on owner occ. 2-4 units to 95% a few months back.