Basically, one of the floors was just empty, and they installed a new kitchen and bathroom.

House hacking is using an owner occupant loan to get into a home or a 2-4 unit property.

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

How much will be the interest rate, and terms of the loan. 

If you close with a conventional loan, it will need to be in your personal name.

Meeting a 20% down payment to avoid PMI seems manageable, although would take a big chunk of my liquid net worth, and I prefer this route over using an FHA loan.

@James JeffersonHi James,To buy out the property you need to probably apply for a loan through any lender.  

Texas does have specific rules regarding home equity loans and cash-out refinancing (often referred to as "Texas Equity Section 50(a)(6)"), but these don’t prohibit homeowners from using funds for investment properties.

we have to have pre sales my bank will only give me a certain amount of spec loans but unlimited amount of pre sales. its the only way to keep velocity when you have a larger project like us ( 90 homes) We have been blessed no questions about it.. we made some critical decisions when we started that now look like genius moves :)

Following Up + More details: @carolineOur utilities were also opened using an LLC but since the power had actually been shut off the problem mostly came from ICE sending someone out to turn it back on plus installing a new style meter (which had to be approved by our HOA but that was another matter entirely and not particularly difficult).Opening a bank account with BCR as an individual is easy and you can get an atm card in about 3 days but you will be limited to holding only a thousand dollars in it.