If anyone is considering doing a FHA loan on a 3-4 unit property, especially in a high cost area, feel free to reach out to me for feedback/discussion as I just went through the real school of hard knocks, but came out with a great cash flowing property!

Make sure the deal stacks up when you compare it to a bank loan, agency, or any other loan opportunity.

Maybe personal loan from a bank or credit union, friends and family.

You'll also want to use a third party servicer to service the loan. 

So, I am going to throw out my thinking on something to get started and wondered if someone could just let me know if it seems like an okay idea of not.I am currently in a home (VA loan) that is costing me $4054 a month (haven't even been in the property a year yet and have a 5.75% interest rate). 

So, if we cannot qualify for Fannie/Freddie that means we would need to use a DSCR loan. 

My partner and I are looking to rehab our first property possibly with a 203k loan.  

i had to used a hard money lender for a bridge loan. for a 12 month term.

We compile data on neighborhood rents and combine that with listing data, then double check rents, the area, and condition.

@Evan GaterBoth are not seniorThe one that was recorded first (lower book and page number) would be the senior in most instances unless it was recorded inproperly and there was a subordination agreementTypically the higher value loan is first as well when recording at same time.Hope this helps