I'm located in Northern NJ, just outside of NYC where both property values and property taxes are ridiculous so in looking to acquire my 1st property was leaning toward a BRRRR House hack situation of ideally a 4-unit; however, SFR is slightly easier to find better deals (not much better just a bit more affordable) in this area; however, with COVID hitting the area HARD (Hudson/Bergen Counties); will the idea of living with strangers in a SFR still be viable or will this virus make the masses lean towards wanting their own space that much more? 

@Victor Ong I caution against using notes as a primary way of acquiring real estate.

Note too that since it's over $25kThe SBA is collatoralizing all of your assets owned now, and acquired before the end of the loan. 

Let say for example on a $690,000 house multi-family with four units using the FHA loan 3.5% which come down to $24,150 would that be enough to acquire the house.

I am about to acquire a property sub2 with new(he bought it 5 months ago) 144k mortgage at 3.4% va loan.

I know, I know...there are far worse problems to have lol, but I figure at some point I'd like to acquire a new truck and since I have a jeep just sitting there as a spare vehicle and I'm only 1 person, why not purchase it when I can write off a portion of the purchase price and then use it as a personal vehicle after the depreciable years if that is allowed. as far as using that 40k to sink into other investing endeavors I would still do that.

@Cesar Escobar In my opinion, if credit is not a concern (i.e. you can qualify for a conventional loan if you want to) there are two main reasons to use a 203k loan:You require a construction budget, but aren't able to put 20%+ down to acquire a construction loan (or don't want to)This is a first time rehab and you want to take advantage of a professional consultantThe second option has much less impact than the first. 203k loans tend to be more expensive than their conventional counterparts.

I can source my own deals if need be and I hold a license in Maryland acquired for this purpose in mind initially.

We want more for the property than what you and the seller agreed to".If you have the time, and it isn't keeping you from pursuing other deals, taking a shot on a short sale can be a great way to acquire property.

Do you use Operating Capital to acquire more properties?