You may be able to secure higher leverage financing through alternative lenders than a traditional bank (not always the case) and this may help advance your objective of reducing the down payment/cash requirement but that may only be temporary relief as you will likely pay more over the course of the loan because of higher rates and fees.

Hi Mary,It is true the lender will not usually give you the rehab funds in advance, but this does not mean that you must complete all of the rehab out of pocket.

That way since there is a connection to the basement there is not issue with you crashing down there.If you don't want to do something like that, I would cut the basement off from the first floor and just rent the first floor, leaving you the basement to crash in when you want.Or see about getting the basement made into it's own separate unit now that ADU are allowed in Mass (although the law may not kick in until the new year)Also your town may now require a certificate of occupancy to be issued before you can rent it out and they may have something to say about this basement connection anyway.Just my two cents as they say.

Thanks in advance. 

Thanks in advance. 

Thanks in advance,David

Get the Certificate of Insurance for the electrical contractor in case there is an issue during installation and also thereafter. 

We are happy to act as our own GC as we don't have the resources to pay for a GC who would charge 20-30% to do the job.Thanks in advance for your help and or ideas.

Thank you in advance for your insight.

obviously it would have to be no income verification lender. i understand that the interest rate might very well be higher. i have good credit and an impeccable payment history. im looking to consolidate and pay off debts other than the property. much thanks in advance