Creating Lending for Eventual Primary Residence

[Lance Dacy]

I have an opportunity that would eventually become our primary residence. The home appraised last year for 2.1m, currently on the market for 1.98. I am offering 1.5m (as it needs about $200k in updates for our tastes). My 4 year equity in the home minus mortgage is at $1m, so it's a good deal IMO. I wanted to place no contingencies in the offer, but we need to sell our primary home to get the funds to close. I could explore a remodel / bridge loan of some sort, but not sure what my options are. I could also take the money from another source, but wouldn't be able to carry the 2 mortgages on personal loan I don't think. I was thinking of DSCR as well as it would have no problem with LTV or DSC Ratios on appraised rent vs. expenses. Any creative options I am likely overlooking?