Short term financing for Mass. auction purchase

[James E.]

Hi BP - in a bit of a unique situation and looking for some advice... 

Short story: looking for creative financing advice for purchasing a condo at auction

Long story: One of my rentals is in a 2 unit condo building. The other unit is vacant and in foreclosure. I've been monitoring the past ~6 months and it's finally going to auction! I've never bought at auction because the risk / reward never felt right to me... but because I'm so familiar with this building, the HOA (of which I'm obviously the trustee), structural condition of the property etc..., the risk is considerably dampened vs. an auction where I'd be coming in relatively blind.

That being said, the timing is not ideal. I have another closing at the end of March on my first MFH and will need to set aside 100k or so for that. Unless I can win this auction for a steal, I won't have enough cash on hand to acquire the property. 

What would you do in my shoes? I've raised ~50k from friends, have been approved for a ~50k personal loan from sofi, and exploring some other options. From my assessment, here is what I can do and the pros / cons, but would love some advice if any of you have been in similar situation:

1. Raise money from friends and family: 

- not looking to partner on this so have been looking for short term loans, and offering 10% annual interest

2. Personal loans from P2P lenders, banks, alt. lenders etc.. 

- approved for 50k from sofi at 9% interest. Each app though hits my credit report which isn't ideal, and interest rates can get up to 15+%, also not ideal

3. Tap equity of other rentals

- potential, but need funds 30 days from Monday so probably wouldn't be able to close fast enough. Interest rates have gone up, so if I decide not to purchase at auction then I will have refinanced into higher interest rates for nothing. 

Any other ideas? Any HML do this type of bridge loan when there is no title / deed to secure the loan?