They may be able to finance you at a low down payment if you have experience, reserves, and FICO as long as the 65% of the value can support the entire purchase price  I wasn't saying 0 down, but the concept of full return of capital. 15% land purchase cash. in columbus land is let's say 50k we build a triplex for 350k which is very close to 15%. small entitlements, reserves required, etc whatever lender asks for. multifamily sells for 200k per door in our market over 4 units, we are pushing the values up. first ones we are working on because of rezoning, etc but it's a full refinance on 6 month seasoning and do it again. that's the scenario that I was outlining. we do it in the urban core of Columbus where new construction trades at $325 a square foot or more for higher rents and higher equity. we could still put more units per parcel in columbus. these are all infill I hate Lehigh acres. overbuilt, no infrastructure, no commercial drivers or asset.

My wife and I have a large growing family and a home that perfectly fits our needs but want to expand our rental portfolio.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

This was our vacation home, and we are turning it into a STR.

This program is also winning on our weekly interest rate survey at the moment.Here is an example of a loan summary put together for a client last week.

I looked through our records trying to figure out the point when the real estate investing gets interesting.

First: humans are very bad at judging risk and people on this site are not immune from that. 

Of course we will be running this by our Accountant but was hoping someone here has dealt with a similar situation.  

Also, I run the local real estate investor meetup group, with our next gathering scheduled for June 5th. 

Yep, good luck with that right now... since they raised the min loan and min house value it cut off many of my exit strategies, and is a real challenge for attempting BRRRR in many of our Ohio cities.