Multifamily rehab loan without residing in property

[Christian Reyes]

Hello Fellow BPers!

Forgive me in advance as I have searched through the forums and perhaps my search skills are not up to par but I haven't found a solution.

I am currently shopping around for a loan that can help me with acquisition of a multifamily property but am coming across many lenders whom will tell me I can only use a Fannie Mae Homestyle renovation loan  but that is limited to a single family property.

I do not intend on living in the property and as such, FHA loans are apparently out of the question. However, would like to be able to include any rehab costs into the loan as well. The Mortgage Broker I spoke with informed me there is basically no other choice I can go with other than private money, hard money or a construction loan.

I wish to hear from you guys. Any suggestions on how I can finance this investment fully (minus my downpayment) and include the rehab costs into it? 

Any and all help is greatly appreciated!

-Christian