"Purchase" single family rehab as primary residence

[Matt Mach]

Hey BP,

I've recently come across a situation where I finished one of my projects and my wife and I were seriously discussing moving into it as our primary residence if we didn't get an offer that we wanted. We are looking to move within the next year or so.

The way the purchase was structured is that it was held under it's own LLC, of which I was the only member, with a mortgage from a hard money lender.

I was told by my mortgage broker that because I had a " majority control" of the LLC which owned it, and I wanted to borrow against the ARV that it was considered a cash our refi so the rates weren't as good and the highest I could go was 80% LTV. That second part isn't a huge breaker for me, but I was hoping to a 10% down loan so that I had more liquid cash available.

I might be looking into doing something similar for a property I found recently and was wondering if there was someway to structure the purchase so that I had the most options available to me when I "purchase" the property from my LLC.