I currently sit at $258K to go on the mortgage and did this through a small bank, which I believe approved me for such good financing at the time.

My questions are:- When a property is in pre-foreclosure, would you expect the bank to redeem?  

three quote rule but also make sure they are familiar with that area and jurisdiction. 

before you go searching for higher priced HML.. check with a local credit union or COMMUNITY bank..

Whichever way you go, do your own taxes or get a CPA, make sure you have a good bookkeeping system for each rental and I'd recommend getting a business checking account - when I had my rental income and expenses mixed in with my personal account, it took a long time to sort through which was personal and business (rentals) with pages of bank statements. 

All you're doing is transfering cash from your bank account to the property. 

I would check with more local banks, as that is probably your best option.

@Jamie Banks and I have recently launched a virtual meetup for MTR operators called The MTR Connect.

Quote from @Jamie Banks: I'm not familiar with the market but I've operated MTRs in a few different markets.

@Jesse Dominguez-Castelan you could get in touch with a local bank in that town and explain to them exactly what you just did here and ask them if they have a product that might help you accomplish both the buyout and the renovations.