I want to pay as little down as possible because I want to start renovations and need my on hand cash.

I have managed the renovation of hundreds of investment properties.Let us know if we can help,Michael and Hope

List price is $340k after a complete renovation. 

This is part of what I don't understand about how other investors do it - an affordable renovation that still makes them money but stabilizes the property. 

I love to talk real estate and have been doing a lot of research and educating myself  in the past months and I believe Cincinnati Ohio would be a great place to invest in small multifamily properties and would like to eventually work my way up to larger multifamily properties. 

We happen to have caught some solid appreciation and plan to flip it now (using the rent we received from the past year to fund a solid chunk of the renovations). 

The 19%  repairs cost irregular as well as I had a tenant in the unit since 2015 who moved out in May, and the unit had last been renovated in 2013. 

By comparison, your unit is larger and has a private yard space.

I was under the impression that we should shop rates with multiple lenders once we have a deal under contract.My friend is not as experienced with FHA 203k or renovation loans in general, though he has another guy in his office who is.

If you can get loans through an institution  or private money and refinance after the new properties are renovated and rented.