The lower downpayment is great, but the DTI will go up and still make it difficult to afford most multifamily properties.

Hey all wondering if anyone has any specific method especially for a newbie for doorknocking to find off market leads.

Side note on why some DSCR loans report to credit: loans get packaged up and sold to large servicing companies after closing. 

I want to open up the HELOC to have as our emergency fund so I can deploy some of the cash we have saved up right now.

You may want to investigate just beefing up your insurance. 

@Mac Macaul I'm always up to grab coffee or lunch and talk real estate investing!

The market really tightened up in the last 3 years where they were better options. 

The financing contingency period is up tomorrow and it looks like they are going to back out, so I guess we will put the property back on the market as a cash-only purchase and see what happens. 

The neighborhood was up-and-coming, and the property itself had solid bones, but it required a vision and some elbow grease.

>  How much do I need to have saved up before my first purchase?