Self employed

[Scott G]

Hi everyone, I've been reading all I can on the forums and really appreciate all the information that the experienced members give. Here's my situation, I'm 32 and a stay at home dad, my wife has a PhD in psychology and runs a consulting business setup as an s-corp (she's the pres and I'm VP). In our second year we're doing ok, grossed about 150k last year and netted in the 80s. We should be in the same net range this year with a larger gross (adding employees and reinvesting profits in the business). Yet it would seem that because we're still a new business receiving bank financing for even a refi on our home is difficult.

My current goal is to create $500-$1000 a month in passive income. Beyond creative financing what are my options for finance? I could probably borrow a fair amount of cash from my dad, and I'm willing to step into the game by wholesaling or flipping and building up my war chest. With our situation what sort of terms would a bank be looking for, 20, 30, 50% down? Should I wait for two years of tax returns to even continue? Thanks in advance for your replies.