Adding Multi-Family Apartments to the portfolio
We currently have a SFR portfolio of 12 houses. I am looking into a multi-family deal in middle TN. Right now the complex is 24 doors and seems to be suffering from mismanagement and neglect as the owners are out of state. There is room for expansion and significant cost cutting based on the expenses the broker sent me. I am looking for ideas for financing. Most of my capital I have tied up buying and remodeling our SFRs. What options are out there for low or no money down deals? Syndication, syndicating, Fannie Mae, Freddie Mac? Asking price is $725,000. I think they would take less since its been on the market awhile, but I'd like to have money to do improvements and cost saving measures. Any recommended reading for Multi-family or syndicating? Thanks!