This allows you to access funds while keeping your existing mortgages intact.Second Mortgage: Explore lenders who offer second-position loans on investment properties, though rates will be higher.Cash-Out HELOC : While traditional banks often restrict HELOCs on non-owner-occupied properties, some portfolio or private lenders may offer HELOCs for investors.With $15-20K in liquid funds, look for deals where you can negotiate terms:Seller Financing: Negotiate lower down payments or interest-only periods.Subject-To Financing: Assume the seller’s existing mortgage while covering the down payment.Lease-to-Own: Lock in the purchase price while using rental income to build equity.

Through the LLC structure it is possible to take advantage of the existing mortgages modified first at 4,125% 22yers and 1%, yes one percent, for 40 years.

House hacking is often promoted as the easiest way to get into real estate—buy a property, rent out part of it, and let tenants cover your mortgage.

The first step is talking to a lender and getting pre-qualified.

In competitive bidding situations, sellers are more likely to accept offers from buyers who already have pre-approval or immediate financing in place.

Quote from @Thomas Zuck: Quote from @Jay Hinrichs: Quote from @Thomas Zuck: I have one project under construction with them right now, the communication is non-existent, unless you reach out first.

However, if you feel you need their input earlier, you could offer to pay for their visit to walk the property with you pre-inspection.

Plus, very important to understand the new layout and how the dig down will effect the existing stairs, plumbing, etc.Happy to connect and talk through your specific situation because @Bruce Woodruff mentioned every project is different and know one price fits all espeically with these complex jobs.Where at in Chicago is your building?

Some exceptions exist, but they are for more advanced investors.

Also DSCR typically has pre payment penalty while hard money does not.