I'm currently planning to purchase a commercial multifamily building in Chicago with the proceeds of a 1031 exchange.

Just keep in mind that using that emergency fund to buy your next property and having tapped a HELOC already may leave you in a bad spot if you run into a similar problem again.Also, I’m not 100% sure, but I have heard that personal loans don’t your credit more so than other types of debt so be sure you look into that if you go the personal loans route and then planned to finance your next purchase soon after.

Expect to remodel kitchen and baths and put new floors down, paint, knock down a wall to open the floor plan. 

What's really interesting is to see some of them being redeveloped into housing for seniors.Also shopping patterns have changed with work flexibility, so many of these malls don't need as big of parking lots that they once did when people could only shop after work or on weekends. 

I had been dealing with them for several months due to the development of plans for a property I own.

I plan to live in it and then rent it out in a year. 

Sounds like a good plan @Stephanie Medina!

If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.

They can offer valuable insights into the local market, potential rental yields, and specific considerations for a rehab project like the one you're planning.

I’m trying to keep things moving, but this $20K requirement is throwing a wrench in my plans.