Multi-family, single plot advice needed

[Josh Porthouse]

Hey everybody, I have an interesting opportunity and I need some advice. A friend presented me with a deal that is 5 units on one singular plot in the Jacksonville area of NC, outside of city limits. It consists of 2 duplexes and one mobile home. I am working with a few potentially interested private lenders, and then also considering refinancing options for months down the road.

This is currently an out of state consideration for me because I am out for training at the moment with other eyes on the property for insight. In order to pay off the initial debt, I have considered a few personal and commercial refi options that all require about 25% as a down payment, based on the respective LTV stipulations. What are some options that you have experienced to cover that high of a down payment in order to qualify for the refi, pay back the initial lender, and still not break all of my savings or disposable capital in the process?

I'd like to consider these ideas prior to making an offer. Thank you all for your insight.