Use a credit union and buy from a private seller .

I applied to borrow 230k Equity loan from a credit union, but they want a statement explaining what the money is for -other than paying back the debt.

Which investor friendly credit union can I open my business account in in or around Silver Spring, MD.

-She said tons of racist things about the African American super, which made me uncomfortable, and she lied about the things he said to her.

@Shaun HoodUsually 2nd loan or LOC from bank or credit union; is bit difficult for investment property.May be you can consider reffinance the original primary to get the equity out. 

We plan on house hacking the bottom unit while we do the repairs and within the next year or so, purchasing another multi-family property to wash, rinse & repeat.Financing was done through Navy Federal Credit Union, where we were able to put down 15% on a 30yr conventional @ 4.5% interest rate - with closing costs, we're looking bringing ~15k cash to the table.   

I found out the hard way that if you are literally within 100 miles of a property you already own, then FHA will NOT give you a loan.Here's what you can do.Wait until you get to your next duty station and then use the fha loan  orGet a loan through Navy Federal Credit Union (You do not have to be in the Navy, you simply need to be on active duty in any branch of the military or honorably discharged)....yes they will let you go zero down with no PMI and you can use it while you have a VA loan in place.

I buy a house with equity and fix it using my credit cards, then I get a appraisal by my credit union.

Please note that I operate in European Union.

I am consistently finding 13% cap rates in Schenectady around Union College area and have not come across anything like this in other, NY markets.