Ideally, I'm looking at doing a renovation loan because I don't have the liquid cash to do renovations unless I drain most of my savings. 

This could act just like a much larger commercial farm just on a smaller scale. 

But what about those of us who want to buy a four-plex or larger?

One of the overwhelming things that keeps people from taking action and investing in real estate, is not knowing what their options are, what their borrowing power and options are, what their financial costs and requirements will be to buy, and then to make payments, what their return for that investment will be (income, appreciation, liquidity).

Including holding debt on short-term lending, syndications in larger projects or outright owning small multi-family or storage.  

I have about $20k in liquid capital that I can use for either option.

I wanted to be liquid to invest in multifamily and support myself as I hunt for a multifamily deal.

Every time my employees put a $50k to $60k contract on my desk I clam up and shriver because large amounts of money don't impress me and the larger the job the smaller my profit.The average job my company does for homeowners is $5,000 to $12,000 and we do several of those jobs every week.

Things can go wrong with larger projects really fast.Also, I can probably supply you an operating agreement as well if you would like for much cheaper than a lawyer.

My best deals to date have come through my association with a couple of Estate liquidation service providers.