There are some that are great for sure, but I have currently heard terrible stories about people putting money in the last 2-3 years and losing it all, capital calls and losing the whole deal due to bad bridge loans (some coming do very soon). 

Since you will be renting it out you should get a conventional loan.

This property is in the next state over from me (only about 90 min away) and is a 5 unit, therefore I'm looking at a commercial loan. 

Example: If you take out a loan for 7% you would want to make more than 7% to make it worth it, and probably significantly more.

If you used a loan to rehab your property and find yourself in a difficult position, doing a straight refi (just paying off the old mortgage) will be easier than trying to pay off the original loan and take additional cash out.

When your LLC takes a loan, expect as members to personally guarantee the debt.

When Trying to qualify for a traditional loan, lenders usually price your purchasing power at 3x your net income.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

The DSCR loan will have one.

I got approved for a HELOAN on my primary property but not sure if I should take the loan to just use as “leverage/reserves” to show the HML and get funded.