I only have a 4-plex but the rehab shouldn't cost more than 80k if I just use contractors.

There is a 4-plex property I am interested in obtaining as my initial property however it won't qualify for a VA loan because the roof is in such bad condition.I was quoted for a conventional loan, 25% down, but when I called the listing agent he said he had a guy offering with a rehab loan with only 10% down!

Major employers are FedEx (Wolrd Headquarters), International Paper, casinos, Trucking/logistical companies. 

I would check to see about the recent sales activity and divesting of the Palms Resort and Casino to get a better idea of what's in store for the property as a whole.

Hi @Michael Floyd & @David TrevinoI'm also in McAllen - I have a 4 plex in Edinburg and looking to acquire something else soon.

I'm interested getting my start by purchasing a 4 plex.

Buy a 2-4 plex, live in one unit and rent out the others.

The property was in complete disrepair and a couple of the 4 plex needed to be demolished and were not inhabitable.  

A year later we sold the condo and took the proceeds to buy a house and a 5-plex.

it's a 5 unit, which would normally require commercial financing, but if my renovations include converting into a 4 plex, it should be eligible for the 203k.