Need better understanding of financing options

[Dustin Dummer]

BiggerPockets has got me all fired up but now I have to figure out a way to make something happen.I've found a property, actually 2, but for now I'm focusing on the financing for a 4-plex. I'm interested in further understanding financing options. Here's my background: Excellent credit but my money is tied up in two properties that I own (mortgaged) so my debt ratio is too high for traditional loan at this time. I have some options: I may have access to some private lending money; a 401K loan is possible; and I have equity in one of my properties so I could possibly get a line of credit (which I would use for emergencies but don't think I'd use for financing). I'm investigating but believe the property is owned free and clear. I'm open to owner financing, full and partial private loans, lease to own, etc. I'm not keen on the idea hard money loans and then refinancing simply because of the higher interest rates and closing cost but I'm open to listen. In regards to private loans, what options are there? How does a private promissory note work if the person does not get the loan outright? Like everyone else I'm in search of the best way to obtain the property, minimize risk, and profit. To keep it basic, let's use $100,000 as purchase price and a goal of including the financing of 20% down. I know there is a strong argument that if you personally cannot put down 20% then you have no business purchasing. That is a fair argument. But I want to understand all possibilities. If I came in with an offer, I'd like to present several options. And if now isn't the time to purchase then perhaps it will help myself and others in the future. I look forward to your responses. In the meantime I'll be reading as many forum postings as possible on the topic.