I have a couple of funding options on the table and I’d love to hear your thoughts:Funding Approach: I have capital partners who are willing to fund 100% of the project in exchange for 50% of the profits.

With my $1,100 monthly revenue, my 700 FICO, and my (likely) $55,000 in equity - what kind of options would I have to refi.?  

(And I know a wrap probably isn't the first option many would choose, but I'm in Texas so its really my only option)

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!

Have you consulted with lenders to discuss your budget and options?

Hi Jimmy,Thanks for the feedback, we have considered Columbus in our analysis and while its great option considering how well the appreciation amounts, i doubt we would find a multifamily in our budget within  those appreciating markets.

What you want to avoid is a lengthy contract with extension options.

Have you and your wife considered exploring fully turnkey properties as an option?

There are a few strategies you might consider to accelerate things.One option is a cash-out refinance.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.