What are the first steps to buying a multi family home?

[Dan Green]

Hi, my name is Dan and I am new to the Real Estate business and I could really use some advice. I live in Pensacola and I want to buy a multi family home and rent it out but I don't have the first clue on what should be my first step. I would really appreciate if someone could point me in the right direction.

[Jerry Padilla]

@Dan Green

If you house hack and live in one of the units you could get into a MFR - up to 4 units with just 3.5% and you can ask the seller to pay up to 6% closing costs, with an FHA mortgage.

If it is strictly an investment purchase you can get in with 25% down and ask the seller to pay up to 2% closing costs, with a conventional mortgage. 

I am glad to answer any financing questions.