BUT, it does mean that sophisticated lenders believe that THE CHANCE of default in said situation puts the loan beyond the “risk/reward” parameters that they’re comfortable with.  

Throughout this journey I hope to meet a mentor(s) who can help me with my vision to own numerous multifamily rentals to create cash flow, financial freedom, and creating a legacy for my family.

I would read through each of the responses and pull out what makes sense in your situation.

The cash flow from that property is close to nothing and if there are any issues with the property and you dont have the financial backing to handle it then it is going to be hard to deal with. 

Maybe I am worrying about something that is no big deal, but would like some input from those of you with experience with this kind of situation.

Though in this situation I wasn't planning a renovation until April of 2024. 

I am currently using the FIRE strategy to become financially independent.

Lack of financial acumenI wonder what percentage get into real estate with little to no money and spent most of it on a guru course - it’s no different then people who want to be a day trader or crypto miner or Amazon business.

Hi Dylan - I am also new to RE investing but have a lot of background in building a solid financial base.

What's a fair financial / equity split?