Buying Cash Only Property Without Cash

[John E Ceisel]

Hello BP!

A condo (in a building I already own several units) is going to be put up for short sale in approximately 2 weeks.  The seller, knowing that I already own there, offered to sell to me cash before going to market.  

Unfortunately, the recent gut remodel of a triplex I bought has drained my cash funds.  It would be a shame to see this one go to another investor as I almost own the majority of condos in the building.  I offered a rent to own option (and to bring their mortgage into good standing), but the seller is not interested and only wants cash.

I think a standard mortgage is out of the question in the short time frame.  I'm in California and the cost is approximately $155k for the condo (plus I'll need $10k for the renovation).

Any ideas on how I can fund a cash purchase?  I understand hard money typically doesn't lend 100%.  I have sufficient equity in some condos I own to cover $155k -- however, since they're rentals I have had a hard time pulling money out of them through standard financial institutions.

Any ideas?  Looking for a creative way to generate funds to pay 100% cash on this investment property.  Thank you.