How would you finance this potential deal?

[James Montague]

I am looking at a gutted (all mechanical removed, blank studs and joists) 9 unit multi-family property to purchase and rehab myself over 12 months.

How would others recommend financing this deal? I have multiple other properties (SFH & Duplexes) that I can pull enough cash out for the down payment and the majority of the outsourced rehab work, but I am curious if there is a better solution to finance this deal so I can make an offer in the near future.

As it is not livable, I do not believe I qualify for a traditional mortgage solution?

Assumed finances:

Purchase: 200k

Rehab work (done myself): 50k

Mechanical work (outsourced) 50k

Appraised value post rehab: 750k

This was acquired and gutted by the "we buy houses for cash" franchise in the city, and they are now trying to sell it for 50k above their purchase price 3 years later, which means it has sat vacant for almost 36 months...