Most banks won't want to come in with a line of credit that is second lien on the property.

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

they usually say stick it in the bank.. so you can offer them a nice return above bank CDs and on an asset they already know and like etc..

The seller is open to seller financing, which presents an incredible opportunity to grow without traditional bank financing.

Try calling Spring Valley Bank (513)-761-6688. 

My question is: How do I properly take the interest that my LLC has put into the new LLC and give it to my person for the purposes of getting a loan from the bank through a refinance.

Overall, you're spending $25k in extra costs and a monthly pmt that's $500 higher to keep $50k in your bank account. 

Quote from @Sharon Bancroft: @Cameron MarmonI had this same situation and my tax accountant filed the change for me ( one time filling) and we now file it on our personal as a disregarded entity.

My though process in undercutting the bank by 1 % was to possibly attract qualified buyers.

We currently accept rent from tenants using a variety of 3rd party apps-Cashapp, Venmo, Zelle but are moving away from accepting payments in our individual names and want to start accepting payments directly to the LLC/business accounts, but LLC accounts do not accept Zelle and there is a fee for using business accounts on Venmo.