Your best bet may be to open up a US credit card and pay the premium with the card and then make payments on the card.

(I super simplified this not taking into account reduced interest from accelerated pay down)Example 1:Mortgage 150k (paid down additional 50k) and 50k needed for next downpayment.Monthly mortgage payment $1000 (not including taxes insurance etc)Cash left after 2nd purchase $0Example 2:Mortgage 200k, 50K needed for downpayment, 50k in reservesMonthly mortgage payment $1000 (not including taxes insurance etc)Cash left after 2nd purchase $50kWhich example looks safer?

Waiting for the tenant to move in is the best bet

I bet my freezer has about $30 of food at any one time.

Make sure your numbers are accurate as during the rehab it can hurt you and become a big lost if you don't have the right numbers. your best bet is to partner up with some experience as the first deal can make or break you.

likely wont be allowed to  re use  appraisal ...your best bet to have a chance doing this will be to  work with same lender that just completed the  refinance …...in general  appraisals are  valid for 120 days

You should be rockin' the passive income.I never recommend building because, when the economy changed overnight in 2008, builders were the first to go and have still not come back in force.I never buy land - it's betting on the future.

The inherited tenant class, building condition, the financials and associated record keeping, bet you can't even find all the leases!

And he misses out on all the benefits of it being owner occupied, like tax exemption from capital gains because he doesnt actually own the property.I bet he isnt properly insured on the property either, because if he insured the property in the llcs namr, the lender would have been notified of the change in coverage.

Your PM and / or contractor should be your best bet.