private money, how to best setup the transaction

[Pedro Urena]

My wife and I are about to close on our first property a 2 family in NYC and I'm already thinking as to how to get the next house. We have a family member that can loan us money at less than 3% the problem is that they are not willing to write letters explaining where the money came from or anything like that for the bank. I know that the money has to stay in the bank for a couple of months if you don't want to explain where the money came from (cash business).So I can have access to cheap money I just don't know how to set up the transaction in such a way that it doesn't appear as borrowed. Any suggestion is appreciated.