Now my drawback of quitting my full time job is getting a bank loan.

Investment to bring property back to rent-ready condition has been a drawback for raising rents.

@Amy Hu the only drawback with mini splits is their ability to heat inside when it’s below freezing outside http://www.daikinac.com/content/assets/DOC/SubmittalDataSheets/072017/MultiZone/2MXL18QMVJU-Submittal-Sheet.pdfIf you go with daikin, I would recommend their “enhanced capacity” line.

SBA is good for the right situation but does have some drawbacks so it really depends on your plans for the property.  

Not sure if I'm making sense there :) .Option C - Use Refi to pull cash and borrow from 401k.Let me know your thoughts and potential drawbacks you can think of. 

The only drawback is too costly. 

The drawback I've witnessed personally is that commercial lenders, which would be the buyers only option if the buying entity is an LLC, have gotten hung up on funding series LLC's for smaller investors.

Wolfe, I am Mojid a Newbie to the BP Forum, I have quite an interest in getting into real estate, however one of my biggest drawback has been a lack of funding and seeing your accomplishment by talking with the owner, I was wondering how often do you see that happening in the market where the property owner allow you to pay it off or rent to own is the appropriate term

I am still new to all of this, but I feel like that is a major draw back.

I'm leaning towards the second, but wondering if there is any drawback to that (ie. higher rates or harder to refinance than getting a mortgage from the get-go).