@Adam Newman yeah, not understanding your statements, "I have $50k plus about 7k in the bank" and "take out a loan and go in with 20% from the start?".

Kieran, the best bet here is to refinance with a DSCR loan.

If it is a good business with a hard to finance issue, he'll work with the loan team to figure out how to lend to them.

I specialize in small multifamily properties and house hacking working alongside BiggerPockets podcast guest Andrew Freed to help investors find high-performing deals in Central MA.My Background:  - Started in late 2019 I utilized an FHA loan to get my first 3 family property in Fitchburg, spent about a year fixing it up and soon after I refinanced. 

If you’re paying off less than $800/mo on your loan id say sell come April selling season.

FHA loans follow very strict guidelines when it comes to property condition.

Here’s some guidance to help with your next steps:Hard Money Loan: Hard money lenders can often cover both the purchase price and some rehab costs (up to 70-75% of the after-repair value or ARV).

I know how to use the basic features of QBO, as I do my own expense tracking, but my Bookkeeper is needed for the more complex entries (Loans, capital balances, reconciliation, data entry from PM monthly statements.)I spend almost 8k per year in QBO and Bookkeeping costs (Not including my accountant or tax prep.)

Pay Down the Loan Faster:I’m considering applying $40,000 annually to the loan principal.

Experience depends on who you deal with - the cleaner the loan file and more organized your paperwork the smoother the process with any private lender.