@Ben LeybovichHere is a slightly different scenario for you  - a passel of hogs if you will.We stumbled across a 4-unit- with potential for a fifth unit - which is an REO where the property was taken partway through a renovation - one unit is rented (500/mth), the rest are vacant.We can acquire this building for <15K/unit and have it rent-ready for <22K/unit (generous contingency, which would allow the 5th unit to be brought on-line if not required).  

I'll shoot you a PM, but my company is definitely geared toward investors, and my business partners are UofA grads and we work on flipping houses, working with investors on acquiring income properties, and we also run a property management company as well as a real estate sales brokerage.

Acquire under market, and use new appraisals to lower my out of pocket?

My goal is to acquire additional rentals in the future, but I realize that I have a lot to learn about the business.

In what way can I take advantage of this to acquire property with little money out of pocket?

They might not have the terms you want but loans in that range are not very competitive to the borrower like larger loans are.The REFI should have been researched heavily with 3 to 4 lenders lined up before even acquiring the property. 

Hello,I am seeking assistance in creating a business plan to acquire more investment properties.First a little background info;I purchased my first property ( a fourplex ) on 12/12/2014 using an FHA loan.

I'd love to acquire an inexpensive multifamily for starters, but I run into same issues as you: the neighborhood is to risky/dangerous or if its in nicer area - the numbers don't make sense.

I started a trustee sale bid service where we acquired just over 500 homes at Maricopa county auctions.

Our interest are in wholesaling and then using the funding from that to acquire multi family units (20-400 over time) to buy and hold.