Good morning Bigger Pockets!! I am sure there is something similar to this in a forum discussion, but the amount of information is crazy to sort through and string together what is relevant to my situation. So I am doing a post (clearly), hoping someone can help guide me here.

The DEAL: There is a cash only property for sale by me. It is the ugly duckling of the neighborhood. I would like to offer 68k. The rehab will be extensive, but it's a pretty small house so I estimate approximately $38-40k. The neighborhood comps are 150-160k. I have friends who would love to rent the property if I get it. I told them a number that would cashflow nicely, and they couldn't agree faster. I've run the numbers, done the calculators on here to double check my numbers, everything looks great. One problem? I don't have this kind of cash!

My STATS/History: We own three properties, two rented out with solid histories, one we live in. I looked at doing cash out refinances, but I don't think I can pull from three homes even though the equity would probably be there. I MAY be able to get the family/friends loan for the rehab, but not the purchase. I figure it'll be a 4 month reno in worst case scenario, but I hope it's less. Here's the real kicker: I don't work currently because I am a medical student (tho I'd rather be in REI...). But this would be a summer project supported by a great contractor I have here. My husband works, but he's in non-profit so his income only stretches so far.

Is a hard money loan my only option? Can I pull the equity somehow? Thank you all for your help!!

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How do I finance and get this deal?!

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