They were working on getting the property financially stabilized and the development planned before taking a big hit during COVID given their large portfolio of retail.

The most common pathway from where you're currently at with your property is a cashout refi to stabilize it and to pull out your capital for the next project.

We hired a GC for an exterior back wall stabilization.

You will then have to refinance with a commercial product or pay it off.

I know this is a somewhat controversial product but a reverse mortgage is an option for folks who want to remain in their home and age in place but need a source of cash flow.Hope this points you in the right direction.

My plan is to stabilize the side I purchased with cosmetic rehab (flooring, paint, cabinetry) before working with the owner of the other side to purchase it and do the same.

Invaluable and he's closed 20+ deals with ppl in my group, and sold at least 7 finished products so it's paid off for him in long run. 

Prioritize your financial stability.

To invest in a house hack, consider income consistency, minimum monthly income, emergency fund, extra savings, debt-to-income ratio (DTI), financing options, stabilizing income streams, starting small, and rental income consideration.

There are definitely pros and cons to each so I figured I would just lay out a few benefits and personal thoughts: Small banks/brokerages:Pros:- Some regional knowledge of the market- Possibility of more creative lending guidelines with bank specific programs- Sometimes they have competitive rates for their areaCons: - weak balance sheet (more strict on some guidelines, no wiggle room, inability to be flexible or grant exceptions because they cannot afford to hold less than perfect loans)- Can't scale with clients to different markets- Usually limits exposure to individual investors (they don't want one investor to be too big of a portion of their balance sheet)- Lack of experience with multiple solutions (tend to have 2 or 3 loan products they sell and are too niche to provide tailored solutions)Large banks/brokerages:Pros:- Large compliance departments that understand individual market guidelines (typically each state has specific lending guidelines that augment the national baseline)- Ability to scale into multiple markets with same lender (licensed in many states)- Impossible for individual investors to "outgrow" a large bank's balance sheet (not concerned with one investor's concentration)- More lending solutions available for different scenarios- Often comparable or better rates given the game is volume basedCons:- Can be more difficult to get fast responses if the bank/brokerage does not have good follow up systems in place (or if the underwriting/processing staff gets overwhelmed)- Bad large banks can feel less like a relationship and more like a cog in a factory (less personal)Overall, I have worked from both and worked with both as a loan officer, branch manager, and as an investor/client myself.