Lending options and finding 1% rule deals

[Elizabeth Bower]

It’s been a while since we’ve been on here or looking for multi-family units and a lot has changed in the market. We’ve done 3 flips since 2021, but now we’re ready to find a 3+ unit multi family. Finding one that meets the 1% rule seems impossible these days…. Is this not a feasible achievement anymore? What are we aiming for these days? Lending, what are our options? We’d like to use the previous rental income from the properties we’re looking at to help secure funding and we’d like to not put much if any down and refinance after improving the property a bit to increase value and get it where it appraises with more than 20% above purchase price to lose the PMI. Am I dreaming? Is this not feasible anymore? Where can I find better properties that aren’t on the market? Are my lending questions unrealistic? If so, what should I be looking at more realistically. We’ve just been out of the forums and information for a while and a lot has changed.