Let's say you borrow $100,000 to pay off your $50,000 IRA loan, $25,000 on credit cards, and keep $25,000 for finishing renovations.

Start by getting pre-approved for a loan, ensuring your credit score, debt-to-income ratio, and finances meet lender requirements.

@Luke Hamlin you can buy a second home with 10% down with a Conventional loan.

This year I may see if if I can get a construction loan to build 20-30 apartments, then refinance with an asset based lender. what markets?

For comparison, a Navy Federal FCU personal loan will be in the 15s%

Its a tiny loan for any institution.You'll have to get hard bids from a local GC, but maybe $110/ft?

The deal will leave the seller at your sons mercy for decades (the life of the loan).

I recommend that you find a trusted or recommended Mortgage Loan Originator (MLO), who can give you options for property-based loans (mostly investment loans) and they don't use your taxes but the P&L of the property.

Hard money and private investing are both ways to finance flips, but they work a little differently.Hard money loans are typically from companies or private lenders that specialize in short-term, high-interest loans.

The SST doesn't apply for legal 2-flats so if you want to use FHA it's probably better to target those that maybe also have a non-conforming basement or attic unit.This is why the 5% down conventional loan is a game changer for house hackers.