If you have three NY properties you might have enough equity to get into something commercial outside of SC.

I would keep as much liquid as possible and essentially get you to 20% equity or more by renovating the property. 

I just re-read and realized you're talking about getting loans for lien position 2, is that correct?

So far, it’s 100% positive.  

Rental Market Trends: Is this zip code trending positively for investors looking for cash flow, or should I expect stagnant rents and challenges with appreciation?

I am looking for a Real estate equity partnership.

If you want to change something, do an update, or another post clarifying your position or changes, etc. 

Here is an example with some figures:My LLC total investment = $204,000Partner LLC total investment = $196,000Value of project when complete = $500,000Each LLC value afterwards = $255,000 / $249,000The plan was for me personally to go get the refinance loan because the terms are so much stronger than if I went portfolio with the LLC.Loan total = $300,000 (keeping at 60% or under of value for best terms from the bank)Partner LLC payout = $249,000My LLC payout = $51,000In this scenario, I am struggling to see how to get the remaining equity in the project into my personal name? 

My father is a contractor so we will be able to complete most of the work ourselves while keeping costs low and add equity.

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).