This would be an owner-occupied property, so you will need to show the ability to repay.

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

And a lot of old school GCs may not have the ability to take a CC and may not care to learn how to...Main question is: why do you want to do this?

Be honest about your history and abilities. 

But the risk to the seller on this deal is immense you have a guy tying up a property who has no ability to close it and then sell it to whoever will give him money and that person could be nefarious get into title rip rents could give 2 craps about the sellers credit etc etc..

The increased cash flow and the ability to pay down the loan more quickly are the biggest draws for me.Am I underestimating the time commitment of managing a multifamily property?

Your ability to connect with them on a personal level matters more than your offer.Think about it:  • The “Used Car Salesman” is only focused on closing the deal as fast as possible.

My interest in entity transfers is the ability to forego a massive increase in the tax bill upon reassessment.

@Christopher Smith there are many...but in my opinion really only three companies out there that offer the ability to 721 into a large and diversified REIT that i'd feel comfortable with. 

I have a STR in Truckee that has done very well and I am looking for another STR, was thinking of the Sacramento market but I hear conflicting info on the permit process and the ability to rent it out for more than 90 days a year as a STR.