@Wei kang He first and foremost start paying off debts and having enough cash in hand for at least 20% down payment + closing costs if you intend to start with buy-and-hold exit strategy.

I liked the demograthics I was working with and did not want to get into lower rents, which eliminated the fourplexes (low rent - affordable housing) and most duplexes (except those in the top areas of Milwaukee).

All these lenders care about essentially is the asset (good location, Debt-service-coverage-ratio [DSCR], Value per door/unit, value).

That means making more income, or more likely, paying off your debts. 

Industry standards pay out debt at hard money rates (10-12% these days with or without points) and first position lien.

In this way, I only need one transaction for each purchase, comparing to refinance and then purchase with finance. 50% LTV is where I can get 1.2 debt service coverage ratio.any suggestions are welcome.

All these avenues should help you in refining your approach before you can ask questions related to the type of debt, data (T-12, RR), reasons why the owner is actually selling so you can define what approach to take in term of financingI hope it helpsGood luckCedrick

Right now we have no money saved due to paying off debts but are able to start saving $2500 a month from this point forward. 

If a $70k/door multi doesn't have at least $700/month rents (1%), I pass.I've been doing this since I started and still look at this on large ($20m+) deals ever day.If anything, it DOESN'T work on 1-4 family as well since those tend to be much harder to get good rent ratios due to competition from home buyers and access to cheaper 30 year debt. 

Student loan debt taking up too much $$?