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

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

We've utilized the VA loan for our current home, and this strategy has worked well so far.

Best of luck on your continued journey, HELOCS can be a great tool to utilize untapped equity in a house.

For this report I used an FHA loan for example, so 3.5% of the purchase price.

Vs the property is $250k PLUS the paydown equity accrued. 

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.

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

@Vinny MuliIf you have equity built up, can you do a cash out refi?

The modeling of this is actually pretty easy (see link: 42-unit proforma sample), but my model treats the pre-refi loan as I/O, but that can be updated based on your deal.