I dont know if there are any state laws regarding this ?
1 to 4 units is considered “residential”
FNMA loans are available nationwide on 1 to 4 unit properties, with 1 unit owner occupied OR as rental property.
You need 25% down for the best pricing on rental property.
It is possible to pay up front and get 4.375% 30 YR Fixed, even on rental properties OR you get a higher rate on rental property without paying the pricing hits.
Conforming loan limits on 3 units is $645,300.
On 4 units it is $801,950.
It’s not unusual in may parts of the country to find 4-plexes from $150K-$250K that rent for $1600-$2400 gross rent per month.
