Find a good lender, get pre approved, make sure you practice running the #'s using the 100's of videos and guides from BP, find an investor friendly Realtor, and then start making offers on any property that meets your goal.

No tax so far I think.2) If I convert that partnership interest into shares in a PUBLICLY traded UPREIT I trigger tax on the deemed sale/exchange of the partnership interest into stock of the REIT?

A HELOC or home equity loan on your personal home could be a viable option to fund the rehab, but it's always a good idea to chat with a lender to explore all your options and find the best fit for your situation.

A lender that specializes in distressed properties can help you find the right financing for your scenario.The Bottom LineInvestors will find unique opportunities with distressed properties, but the myths need to be dispelled.

@Nicole ShoafYou are correct and have equity locked up in those units, a good lender can give you options on HELOCs or other loan products that could help get some equity out without selling.

Always get multiple lenders working for you in the due diligence process!

Another great option is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat), where you buy a fixer-upper, renovate it, rent it out, and refinance to pull your cash back for the next deal, and this is a good route because most private lenders can go higher LTV than on a rental loan! 

Here is a list of lenders offering such financing: https://www.biggerpockets.com/member-blogs/2810/50272-list-o...

private money lender How did you add value to the deal?

Ultimately though, it will depend on the lender and the availability of funds (assistance) available for the demographic area that you are purchasing in.Do you have a property that you are looking at?