Single family into multi family

[Nathan Fraser]

Hello BiggerPockets

So I just bought my first house. It’s a split level, 4 bed 2 bath. Each floor is split evenly. I’d like to reach out an ask what are the best strategies for getting a rehab loan without having to use future equity ( I need to use that for next house). I plan to keep this property and use it as a rental. By splitting it into two units I can get more cash flow from one property.

From what I understand hard money would need to be paid back quickly making me use the equity to do that. I’d rather take out a loan that I can have my renters pay back over a period of time so when I go to cash out refi, I get to use the equity to leverage the next purchase. Any advice?