Ways to Structure Apartment Reposition Acquisitions ?

[Manuel Angeles]

What are some of the Ways that you can Structure Apartment Reposition Acquisitions ?

For the experienced commercial multifamily investors here, I'd love to learn  and hear about some of the stories in which you creatively structured your apartment value-add properties.

Dave Lindahl's book Multi-Family Millions talks about 

• All inclusive trust deeds 
• Get a new 1st TD loan and have seller carry 
  There are some lenders who can lend up to 75-80% Loan-to-cost.
  But I do not know of any Commercial Real Estate Hard Money Lenders who would provide 2nd TD... Do you ?
• Get a new 1st TD loan and Syndicate the gap
• Syndicate the entire acquisition 

What fascinates me most about commercial repositions is the fact that 
Once your property is repositioned and stabilized at the new value,
You can refinance the entire loan and potential get some cash out with the equity.

Who are some of the best banks / lenders you go to for the cash out refinance ? Local Banks ? Big Institutional Banks (Chase, US Bank, BofA) ?