Hopefully those loans enabled you to get a good job, though.

@Bruce Lee I suppose these may be sub categories of some of the ones mentioned, but you canAdd value to performing propertiesIncrease NOI through RUBBS Increase NOI through more efficient management.Decrease vacancies Improve quality of tenantsUpgrade units to enable you to raise rents.Most of the strategies used in SFH can also be used in MFH. ie wholesaling, birddogging, note purchase, owner finance, master lease, etc

So, for example if we don't have exactly 2 years or business experience (although we have a few smaller MF properties) or strong business financials, does it help to perhaps add other investors (principles) who would give us this extra level of financial credibility to enable us to secure a $1.2M mortgage?

@Clayton MillerTo Tim's point if you house hack a property would will start to reduce your expenses and supplement your income and that would help boost your RE career. 

It is the exact same layout as the other 4 apartments and has 2 egress points in it so I'm not sure what the hold up is on the CO for it, but that enabled me to not get a commercial loan, because the City of Cincinnati considers it a residential building. 

A HELOC can be nice, because it enables you to act quickly. 

We are very new to the process but wanted to get into it because having a renter would allow us to supplement some extra income and help pay toward mortgage while my wife stays home with the young ones.We have inspection today and if all goes well, we'll be signing off with mortgage broker tonight.Our broker needs insurance information, but we don't quite know the best way to insure it knowing we will in the very near future rent out the basement.  

My wife and I are discussing buying our first rental property with the aspirations of having 3 or 4 to supplement our current income and hopefully fund college for our children which are still young.Our plan was to buy a home at 50-75k and rehab it with 20-25k and then rent it for 1-1.2k.

At the moment I'm looking to supplement my income.

approximately, how much of each down/closing costs(per deal) were you able to recover, percentage-wise, of that money on your cash out refi to enable you to reinvest in another hold?