My lender has been good in the past but I was under the impression that small multifamily could be financed like a single family without larger down payments and higher interest rates. 

Hi BP fam!
I am underwriting various deals in the 30 unit range in the Charlotte, NC market (one of which is off market direct to seller) and I wanted to get the  opinion on how the BP community goes about estimating...

@Joe Splitrock, she and her kids out over 150 holes in the walls and all of the doors and flooded a toilet and broke two crisper drawers in the fridge, and had a dog that peed on all of the floors, and lost all of the keys, and drew permanent marker on all of the walls and doors.

Another great way to get your foot into the door of multifamily is becoming a limited partner on larger multifamily syndication.

I used a business credit card and line of credit to build a relationship with one of the larger banks that is known for being harder to work with.

Why would someone look for a deal for only a $1,000 bird dog fee?

And, depending on the effective tax rate of the investor, the after-tax return on cash flow is almost always to some degree even lower.The simple fact is that larger multi-family properties (apartment buildings), mixed-use properties and retail buildings sell/trade at capitalization rates that offer investors’ greater yield assuming sufficient capital is available for investment.

I have 2 dogs, the second dog was purchased with plans to breed once we get a female.

@Gary Woodring if you are buying a larger deal, I would explore using agency debt.

I suggest you reach out to a larger STR management company and ask them what services they provide if you were to go with them for a rental that you have.