Here are some quick numbers for context.Purchase totalAfter RenosYearly RentsCap Rate (pre costs)Cap Rate (- $300 IRS, PM, INS)$62,240.00 $64,890.00 $11,760.00 18.12%12.58%$71,280.00 $71,530.00 $9,516.00 13.30%8.27%$37,116.00 $39,116.00 $10,500.00 26.84%17.64%$58,857.00 $59,857.00 $12,000.00 20.05%14.03%$49,501.00 $56,046.00 $10,740.00 19.16%12.74%All in, we're interested in any creative financing - traditional refi, portfolio loans, DSCR, HELOC.

I’m a local contractor new to investing, I created a partnership with my wife’s father and we are about to close on our first multi family with a conventional owner occupied loan in my father in laws name.

It can disqualify them for a car loan or credit card.

They offer a renovation loan that converts to a standard mortgage upon completion of the project.

Will you be asked to sign on the construction loan? 

Is finding a bank to loan me, the only option? 

Some more info on DSCR loans:DSCR loans won't use your income to underwrite the loan.

Since last year of November, Fannie and Freddie has allowed borrowers to put min 5% down for conventional loans and being able to invest multifamily up to 4units.Also, the beauty of FHA is that it allows you to put 3.5% down payment to invest in 1-4 units.

What sort of loan are you looking for?

That's $22,500 you can use for any surprises life throws at you or to make your new house feel like home.Downside: Your loan's gonna cost you more in the long run because of that higher interest rate (6.625% is no joke!).