Non-recourse and Recourse Loan Parameters

[Jim Froehlich]

BP Members, I've been trying to pinpoint parameters by reading other posts on this subject, but I'm getting conflicting information. I was recently told that I can only get non-recourse loans (residential rentals) for over $1M (generally for portfolio loan). I saw in a post that someone mentioned ability for N/R at as low as $50K. What I'm trying to do with a team of family/friend investors is team up to buy properties cash, but then refinance these rentals within 6 months for 60% cash out. Is that feasible? 2nd question: if placing these properties under LLC that I manage and where 10 people own 10%, if we have to do recourse loan, do ALL 10 people have to give credit, assets, etc.? Can one owner be the "recourse sponsor"? I know there are better financing options if putting properties into S-Corp or C-Corp after buying FNMA rates, but we don't want to be dependent on personal credit for these buys, rather the assets until the overall portfolio is stronger. Thanks for any thoughts/info! Jim