Hello All,I am purchasing a banked REO as is with occupants in it.  

Putting the property under either structure activates the clause in my mortgage contract where the bank calls back the loan. 

Their job is to make calls to banks for you to find the best deal. 

Most banks will require between 20-25% of total costs of the construction project (including land, building costs, permit costs, soft costs, etc). 

They weren't willing to co-sign...However, after meeting with a local bank who has been good to me, my wife, and our families we were offered the following terms..Yellow: Cash out $205,000 at 5.25% - adjustable rate.

I have about $20,000 liquid that I can tap into from savings, which I would use a portion for the down payment, and my credit score is 710-714 so I'm not opposed to obtaining financing through a local bank or credit union for financing.Also, what additional books, materials, or resources would you recommend that I could read to get myself more familiarized with this form of real estate investing?

Just write checks to myself as "distributions" from my LLC business bank account?  

Hey Bryan, you could buy you next property in the next month if you want to, but I am assuming you are asking about the 2 year period due to banks wanting to see 2 years of filed Schedule E's to use the rental property income in the calculation for what loan they will give you. 

There’s a reason people can’t finance through a bank.

If you go to a bank or lender directly, you will most likely be dealing with an unlicensed salesperson who's sole job is to sell you on what's going to make the bank or lender the most money.