Any suggestion for the funding?

[Yingchun Li]

As we are still in the process in the rehabbing for a house we just closed,  another deal popped out days ago.  But we are tight for the moment. 

It's a single family home in the area we like. The asking price is lower than market price and it needs a couple of thousand to fix up and continue to be a rental. The owner is ok with the conventional loan as the house doesn't have foundation issues, it has been a rental for the last 4 years. 

We thought about turn it to be a duplex, then the rebab cost will be raised up a lot, but it will be 2 doors and the cash flow will be higher. 

And the owner also said it's possible to turn it to be a commercial property then rent it to be a lawyer's office or so.

We try to find the best funding for this deal for the down pay and the rehab. Finding a partner for the long term or keep it simple just look for the big gap funding as we will refi it and get cash out. 

Another way just assigns the contract,  but we really like this house. But for the moment, our capital is short.