When a buyer is looking to make their first real estate purchase, they may not be informed that FHA financing can be used for 2-4 residential units. FHA, first-time home buyer, financing is available for only 3.5% cash down payment. This government-backed loan option also offers low, fixed-rate interest and lower-than-normal credit qualifications. To get pre-approved, it is best to use a lender that is familiar with FHA financing and has closed an apartment purchase in the past. Some people may tell you this is impossible, but I have personally seen these loans close! This is an amazing opportunity to buy your first investment property with very low risk.