Delayed financing exemption to pay off loan to myself?

[Aaron Hale]

Hey BP,

I am self-employed and recently purchased a property in cash with cash from my business account. With the BRRRR strategy in mind. The rehab costs have crept past what I had budgeted and am looking for some creative was to complete the project.

My first question is; what documentation do I need to show that the business loaned me the funds so that I can deduct them from my taxes? Second, since I paid cash, could I qualify for Fannie Mae’s delayed financing exemption cash-out mortgage now to complete the rehab?

Thanks all!