Strategy
How to buy multi family homes
in Myrtle Beach.
By Devin Day, Operations Officer & licensed MLO · Chapter3 Realty · Updated August 15, 2026
Two, three, or four rent checks from one building, financed like a regular home.
The five steps
How small multifamily works, step by step
- 1
Find a building of two to four units. Four units or fewer keeps it on a regular home loan.
- 2
Add up the rent roll. That is the combined rent from every unit, not the best one.
- 3
Weigh it against the whole building's costs. Payment, taxes, insurance and maintenance for all units together.
- 4
Decide whether you will live in one. Living in a unit opens owner-occupied loans with far less money down.
- 5
Budget for more tenants. More units means more calls, and one roof or HVAC bill hits every unit at once.
Small multifamily means a duplex, triplex, or fourplex. That is two, three, or four homes in one purchase, one loan, one roof. On the Grand Strand, these buildings cluster in Conway, the older parts of Myrtle Beach, and pockets of North Myrtle Beach. Here is the ten-second version of the trade.
Why people do it
- +Several rents from one purchase
- +One vacancy does not zero your income
- +Live in one unit, let the others pay the loan
What can go wrong
- !More tenants means more calls
- !One roof or HVAC bill hits every unit at once
- !Good buildings are scarce and go fast
The four-unit line
Four units or fewer keeps the loan simple
Lenders draw a hard line at four units. That line decides the kind of loan you can get and the cash you need.
2 to 4 units
- Counts as a regular home loan.
- Small down payment if you live there.
- Familiar paperwork and simpler rules.
5 or more units
- Counts as a commercial loan.
- Bigger down payment.
- Tougher rules and a tighter review.
Live in one, rent the rest
House hacking, the low-cash way in
House hacking means you buy the building as your own home. You live in one unit and rent out the others. Their rent helps pay your loan.
Because you live there, you can use an owner-occupied loan like FHA on a two-to-four-unit building: as little as 3.5 percent down and a lower rate than an investor loan. Lenders generally expect you to live there about a year. After that, you can move out, rent your old unit, and keep the whole building.
Planning the live-in route? Start with our buyer guides for low-down-payment loans, including VA options. Buying purely as an investor? Look at a DSCR loan. DSCR means the loan qualifies on the property's rent, not your tax returns.
Check the math
Judge the whole building, not one unit
A small multifamily deal succeeds or fails on its rent roll, the combined rent from every unit. Add up every rent. Then set that total against the loan payment, taxes, insurance, and repairs for the whole building.
Our long-term rental analyzer prices one unit at a time. Run each unit, add them up, and you can see the building's true picture. Want to compare other paths first? Browse the rest of our strategy guides.
Let us help with your next investment.
Send us the address. We will run the rent, the expenses and the association documents before you write an offer, at no cost.
Call 854.333.2135Common questions
Frequently asked questions
Is a duplex a good investment in Myrtle Beach?
Often, yes. A duplex gives you two rent checks from one purchase and one roof. It can be financed with a regular home loan. On the Grand Strand, duplexes cluster in Conway, older Myrtle Beach neighborhoods, and parts of North Myrtle Beach.
What is the difference between a fourplex and a five-unit building?
Financing. A building with two to four units counts as residential, so regular home loans apply. At five units and up, the building counts as commercial. That means a commercial loan, a bigger down payment, and tougher rules.
Can I live in one unit and rent the others?
Yes. That is house hacking. Buy a two-to-four-unit building as your home and you can use a low-down-payment loan such as FHA, conventional, or VA. The other units help cover the mortgage. Lenders generally expect you to live there about a year.
How much down payment does a multifamily property need?
It depends on whether you live there. An owner-occupied duplex through fourplex can require very little down with the right loan. For a pure investment purchase, a DSCR loan typically needs 20 to 25 percent down. DSCR means the loan qualifies on the property's rent, not your tax returns.
How do I run the numbers on a triplex or fourplex?
Running the numbers just means checking the math the way a lender would. Start with the rent roll, the combined rent from every unit. Weigh it against the payment, taxes, insurance, and maintenance for the whole building. Our long-term rental analyzer gives you the per-unit numbers to build the total.