Need advice for creative financing

[Fernando Ramirez]

I am looking at a commercial property for $260k. It currently has 3 commercial buildings plus four additional multi family lots. If I purchase I intend to build four fourplexes (over a 4 yr period). Also two of the current standing buildings will be converted to fourplexes down the road. So this property has the  potential for six fourplexes and a commercial building.

Owner will finance with  $50k dn, mortgage payment would be $2900/month including taxes&insur. I plan on raising rent to cover total payment.

My current financial situation/problem is we are a one income/self employed (low income due to write offs) and house poor. My credit is fair but debt to ratio is maxed out. I own my current home free and clear and it is on tax rolls for $330k (disputed from $346k) 

I am thinking I could sign my house over to my mom or sell it to her cheap and have her refinance it for $200k to fund this project. ($50k in saving to cover home mortgage for 2 yrs, $50k down payment on property, & $100k to start first fourplex. 

I need figure out how to pull equity from my home to fund this project. 

Side note 3/2 Duplexes are renting for $1300 in this area.

What kind of creative financing strategy can I use to get fund this project?

Any and all advice is greatly appreciated. TIA