For your first commercial deal, your best home is probably going to be with a local community bank or credit union. 

I think it should appraise for at least 600k and think 650k is reasonable.It’s fully renovated and fully leased for $5,200/month.I’ve reached out to banks to see if I could use cross collateral to be my equity contribution but at least so far they’ve also wanted 10% cash.I’d like to avoid coming out of pocket with cash.I was wondering if you had creative ideas on how I might be able to get this financed 💗

I paid $600k and got a local bank to loan 75% for 5-years at 3.85%. 

If not again you would be better off buying your own home and having enough yard/space for all of them but 13 is still way to many dogs unless you live on a farm or own acres of land.I have worked in the banking business and have seen people lose their homes that they rent due to landlords kicking them out with very little warning due to breach of contract or a No pet rule. 

Quote from @Zach Engen: The federal savings bank does 5% down on vacation homes, talk to Jason Wray over there.Email? 

While the second LLC does not yet have an EIN, can we temporarily operate using only the bank account of the first LLC (which also holds the property)?

I suspect you spoke to bank employees who weren’t in their commercial lending division and didn’t understand your borrowing request. 

And then I would use trust deed and promissory note to get a loan with lower interest rate this is how all lenders work banks HML private money lenders if they are scaling.. 

The only way you can start skimming profits is when you have enough money in the bank to cover all emergency repairs which could be $15,000-$50,000.

If I finance the rebuild then the 1031 exchange presents some challenges (I will need to land a property that cash flows or breakeven so that I can get the loan for my rebuild, or banks will count that debt against me).