Looking for financing for reno on top of seller financing deal - no cash out refi opt

[Ashley Nelson]

Hey guys- 

I found a great 16 unit in an up and coming city in the perfect location. I've talked the seller into seller financing at great terms and plan to ride that out given I've had trouble finding a lender that is willing to do 10+ units at a decent rate now a days.

The problem is the complex needs a full gut which will be about 350/400k reno. Anyone have thoughts on how to cover the reno and convert it into a loan with payments? Is my best bet a personal/business loan? 

Whats the best rates you've seen for 10+ units and with what lenders? Would be up to explore a full purchase + rehab loan if I can find somewhere less risk adverse than my current folks.

Thanks for the help in advance!

[Dustin Tucker]

@Ashley Nelson You may want to take a longer term approach and rehab 1 unit at a time. The market for 5+ unit loans is almost impossible right now. If i were you i would Join, lifestiles Unlimited, they have a multifamily group that would put up the $400k, for an equity stake.