Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time. 

Are there people who would do a private loan for just the downpayment amount?

JustinWith 500K cash, I would use most of it for one building if you can find a good cash-flowing one and the rest can be kept as reserves and/or private money lending.

The tried and true way is to purchase a off-market property, rehab for no more than 75% ARV, refinance to get your money out or payback the private hard money loan - start short-term leasing the property.

If it's in my private name I can do without an attorney.

I'm not sure where to start with private money or hard money lending when it comes to covering rehab costs on a rental property that we already own.

If so, you would need private/hard money so you can do renovations, and then AFTER you would do more of a permanent solution like a DSCR. 

Become an LO in the Private/Hard Money space, and pursue both.

In other words, secure funding privately or secure funding commercially? 

Hi @Taylor Robertson,To answer your original question, most lenders (private and conventional) will refinance an investment property up to 75% Loan to Value (LTV) of it's current value.