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.

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

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

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.

They unleashed pandemic handouts and loan programs that greased the economy (this was not well thought out, contributed to the inflationary environment we are still suffering from and PPP and ERP loans were flooded with fraudulent loans and benefits)These programs leveraged existing corporate infrastructure (banks and the government had little or no operational involvement). 

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

.- Collect Tax Certificate to verify Property Taxes are Paid- Get a current statement from the seller to verify the existing balance, if they are delinquent, you can get the bank on the phone to verify the amount to make the loan current.- Review the loan documents, there is most likely a due on sale clause, which is why you won't find a title company to process these for you.

If it is someone you know you can give them a straight return as if its a loan - can provide a lower interest rate to provide upside - it really depends on the lender and what are they concerned with and what is their risk profile. 

He is very good about deductions on tax returns so his income looks negligible and of course banks wont talk to him about loans.