The DSCR loan would allow you to qualify based on the rent you are collecting and get up to 75% of the value (175 x 0.75 = 131.25k, minus 20k payoff and closing costs.You could get a line of credit or a bridge loan against it to borrow money, but it would be higher interest.

.- Do you have 200-250k cash, or is that what you can get with your loan amount?

You can talk to the bank about a loan; however, my bet is they will want some form of contract and scope of work and will only pay him at set milestones.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

As far as your next property, if you are already considering moving you will get better loan options + interest rates if you decide to live in the next property and rent out your current house. 

Once the rehab was done I refinanced out of the private loan into a conventional loan as a primary residence.

I would not buy a new vehicle just to get a write off - Only if you planned to get a new car anyway(I.E. if your old car is worn out).A lot of people are focused on deducitons but not focused on the income coming in / out.Best of luck!

This means sizeable monthly payments, but if utilizing with Value Add you can pay off the loan without a pre payment penalty at any time.Hope this helps!

Do the math at a 6% loan rate.There's a reason many apartment buildings have been converted to condos and sold.

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan.