First Deal - need financing and down-payment help

[Nicole Davidson]

Hi friends. Have a killer deal in my lap in Folsom, CA way under market value. I'm just a baby-investor so lots to learn. Please help?

I am currently planning to use DSCR so needs $65,000 down (20% as I understand it, but I'm open to different products if theres something better).

To get downpayment - I have a rental with tons of equity (owe $590k, valued at $925k) but not refinancing because I have 2.99%

Or... I could find someone who wants to invest $65k for 24 months with interest only payments at 10% so $583/mo ??

Or something else? I'm sure there are a million things I don't know. Thank you!!!