If you need extra funds, explore hard money financing options again.

My only backup plan if I can't get verified funds is to assume the worst and to drop my counter offer even lower than my original due to the risk I would be taking on, and then when I do my in person inspection try and guess what rents are fair market for the empty units, and ask as many tenants as I can what they pay in rents monthly.

I am looking to JV with my brother where I will do the real estate investing (finding deals, property management, etc.) and my brother will fund it from his business account. 

Return any funds and move on. 

Dear all,
I'd like to share a creative finance strategy that I have used to scale to $10.5M of client capital under management and $21M of assets on the books. These assets encompass 33 houses and a $5.5M stake in 20...

There are a lot of programs for investors to get free funding for lead certification, lead remediation and such.

@Joe Jor brings up some great points and I like his suggestion for contacting the building dept.You may also be able to negotiate credits or for funds to be held in escrow - until seller removes open permits, violations, etc.Lastly, for estimates on the work that will need to be completed on the property, you could also contact an expeditor who services Westchester.All the best to you on your search!

I think your caution of using a LOC for funding a down payment is wise. 

Most are more for single family, some are from hard money funds that want to finance new construction.

Our team at Missional Capital Group just closed on The Timbers Fund—a 55-unit apartment complex located in Alabama.