Loan balance is 280k, value is over 500k, cash flows about $1300…went to apply for a business line of credit thru my operating LLC and was denied due to losses in last years schedule E…the idea was that I use the LOC to help pay for a down payment.

I'd personally be a bit more conservative with the underwriting and make sure to see what the carrying costs could potential get to especially if this is a bigger renovation and not just cosmetic. 

You’ll be living in one unit and renting out the others— but with a bigger payday!

Thanks a lot for the replies @Chris Mason and @Gregory SchwartzOur lender said we can do a bridge loan but its around 11%.. id bring in 20% downpayment max, dont want to put too much personal assets into it and the issue is for yr1 w low rents and renovations its def a monthly -3-4k loss. def want an 8% or lower rateNot sure if lenders are ok with an initial cashflow loss, once its renovated we can have market rents and its a great deal after. it listed at 1.495M and we'd offer 1.2-1.25M. i understand the living in part doesnt necessarily bide well with investment focus, but for us thats a big appeal that its in a nice area to even live in

Make a decision and move forward.Don’t make things a bigger deal than they are.What do you think about the garage door color?

Here's a sample monthly for one property:Gross Rent: $1990Mortgage: 1770Tax: 209Insurance: 119Management: 199SO that's about a loss of $300/mo. 

I'm currently exploring real estate investments, which led me to discover Bigger Pockets.I'm new here and just exploring to get a sense of things.

Prior to the workshop we had done research for only a month, including signing up on Bigger Pockets.

My previous comment was "flagged" by bigger pockets as they think I was trying to sell you something for free, anyway.

We're mourning the loss of friends and neighbors, some of which haven't been found yet, not to mention favorite places, small businesses, animals, you name it.