Quote from @Susana Alcorta: Hello,I'm a long-time listener of the Bigger Pockets Money Podcast.

You can't pull money out if there is no equity.

If I were you, I'd pass on this property and look for something else (and I suggest a 3 BR) under $80 that you can put a little rehab into, unless insurance pays your family member a bunch of money and they accept a much lower price. 

You'll need something like 125 units netting $200 per door to get there, that's about 10 million worth of multifamily in today's money, so you'll need about 3 million in down payments.

However, she has requested a Rent Credit.I have no problem letting her clean since that will save us money and allow her to get in there faster.

However, if you intend to work with a hard money lender or utilize a short-term loan product, you're on the clock for repayment, which can be stressful if things go sideways. 

My partner and I don't get a cut of any of the money invested, it's a flat-fee membership club.

Keep in mind it is a risk and speculation, if something happens(market tanks, job loss, etc) then you will be out money.

For now, we recommend using the 3rd parties listed in the below post.The beginning of the year is a perfect opportunity to get even with all those contractors who worked for you during 2023: report them to the almighty IRS and make them pay taxes on the money they received from you.

.## Financing OptionsFor Hard Money and Private Lender financing, it's crucial to build relationships with local lenders.