Creatively Financing A BRRNB?

[Austin Marvel]

Hey all I'm SURE this question has been asked but wanted some fresh insight from the awesome community at BP. My wife and I have found a pretty awesome SFR with an ADU and potential to split the two levels into separate units and it's on the lake with no HOA.

We definitely want to get this thing under contract, do about $35k in rehab over 3 months then get a cash out refi when it's renting out...we've looked into some of the basic options lease-to-own, subject to, owner financing...etc let's say all those are a no go...

Without throwing the $150k as a 20% down payment on the $700k purchase price how can I structure this to be a viable solution?

We both have separate mortgages, good credit and less than 40% with the DTI score.

This home is only a few miles from her primary residence so we're not sure how we could justify the "second home loan" besides the fact that it's actually on the water. We could always purchase with the contingency that her current home sells but would rather not if we didn't have to.

I've never worked with partners and wouldn't even know where to start when structuring this deal in a way that investors could passively invest. I get the concept but it's the actual logistics that I have no experience in. Just wondering if you guys would be interested in shedding a little light here and let me know what ideas you've got or tricks that have used for you!

THANK YOU IN ADVANCE!

.      -Mrvl