Make sure you are accurately calculating your holding costs. 

Then figure out (in today's dollars) what it will cost to replace.

What's the purchase price and estimated rehab cost as a % of ARV?

If you end up using AirDNA yourself it will cost about $99 per zipcode you want to review haha Would be very interested in hearing about how your Michigan properties are performing.

I would focus on saving towards your down-payment and closing costs.

If you find yourself second guessing your own preparation or dealing with more difficult topics such as a cost segregation, then it is probably a great time to at least consult with a professional.

If you consider all the costs like interest and points, hard money will be more expensive in general in this case.

@Caitlin Lutenske-LoganI'm curious as to why you're interested in such an involved plan that has enormous set-up costs, as well as continuing management costs. 

@Doug Davis, I concur with the others above, you're going to have a helluva time acquiring an owner-occupied small multifamily, especially if your pre-approval/budget is around $300k-$400k, the main acquisition cost for many investors.

30 year fixed, low interest rate DSCR BLANKET loans (put multiple 1-4 unit properties under one loan for cash out or for purchase).Ground Up Construction loans for aspiring developers with NO Experience100% Financing on Fix and Flips (just pay closing costs and prepaid taxes/insurance)Fix and Flip financing that requires no appraisalHELOCS on investment propertiesBuilder's Forwards (for medium to larger developers who want to hedge interest rates on their properties they plan to sell so they can offer "low builders rates").DSCR loans for long term AND short term rentals (I think this is becoming more and more common, but some people have still never heard of this).And so much more!