HUD Section 184 Loan

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Hello everyone,

My name is Harrison and I am from Tulsa, Oklahoma. I am looking to purchase my first property, 2-4 units, utilizing the "house hacking" strategy. Doing some research on financing, I discovered the HUD Section 184 loan for Native Americans. The loan offers a low 2.25% down payment, structured to purchase and finance the improvements "rehab" in single closing, and with regular 30 year fixed rates available. Being a Cherokee member myself, this seems to be an great way to get started in my real estate journey.

Has anyone ever used a Section 184 loan? If so, what was your experience like? Unapparent challenges, pitfalls, disadvantages, etc.? Also, any general advice for a Newbie is greatly appreciated.

Thank you!