Single family homes are beholden to higher cost per unit in aquisition and loan payments. 

I am getting an FHA Loan with 3.5% down.

I'd like to purchase another property or two before the end of 2024.I would like to pay the HELOC down if I can refi in a couple of months (the conventional loan is about 108,000.

I just recently bought my first property in Nov '23 just outside of Chicago, IL with an FHA loan.

Hi Jindou,From a loan perspective, 2-4 units are a bit more favorable if you can take them down with an owner-occupied FHA, conventional, or VA loan.

We have no idea what type of loan you are receiving nor the downpayment program. 

I'm comfortable analyzing a deal, I understand I'll need to get an LLC in order to get a short-term loan, and I know I'll need to find a lender for the refinance, but sourcing bids is what is currently hanging me up.

They also often do smaller loans that other lenders won't touch. 

Those of you who are conventional (with a loan) investors what are your thoughts on this?  

Join in on local seminars, networking events, and meetings for real estate to network with seasoned investors and gain insight from their experiences.Evaluate your options for Financing: Investigate your choices for financing multifamily residences, such as conventional loans, FHA loans, and other mortgage programs.