IMO the key metric is the DCR. talk to a commercial lender and find out how much they would lend on the property with a convetional loan and then factor in the 25% down and thats your number. i think most banks want 1.2-1.25 in order to lend based on the financials. 

I haven't decided yet, I've been looking into the Chicago and Milwaukee markets recently, I don't have too much capital yet and no steady job, so I won't be able to obtain a loan right now, so I'm just kind of researching currently.

A conventional loan How did you add value to the deal?

@Angelica Valde let's assume for a moment that the loan won't care if you re-zone it after closing (which is the most likely scenario)...how would you qualify for the loan when you refinanced?  

I would say go the owner occupant loan route to get into something for 3.5-5% down instead of 20-25% that you'd need with an investor loan, but those require you to live in the property for a year before you could rent it out.Airbnb could be appealing also since you'd already be furnishing the place for yourself, could just leave the furniture there after you'd move out.

Even if you're already working with a Loan Officer, I'm here to help our community members to avoid being taken advantage of.

Well 2 of the 3 properties have no loan.

It’s not that they can’t get a loan.

I was wanting to know, can you do this through an SBA loan?

Its a 3 bed 2 1/2 bath.It is around 255k and I am using the state's first time homebuyer loan that provides 6k towards the down-payment.