On the other hand, with an appraisal near the purchase price, that should be enough in this case.

When the home was purchased, it was conventional loan and the basement had tenants.

Last year, I purchased a SFH under market at 7.65% interest rate and did some rehab to up the value.

Quote from @Jokari Trueheart: HI, almost 11 months ago I purchased 3 duplexes and I borrowed the funds from my personal residence which I took out a equity agreement for the down payment on the investment property, great idea at the time because I have 10 years to pay it off and theres no payment requirement, but , I learned more about the consequence that it takes a large chunk of my equity the longer I take to pay it back, so my goal was to refi cash out the investment property to pay it back but I don't think theres enough equity yet to pull the full $106k needed, I only borrowed $88k but with the equity percentage for one year i'm paying about $18k in equity on top of the amount I borrowed if I pay it off in year one, so I need this paid off ASAP before it increases more.

Slowly work your way up to bigger purchase price and rehab budgets.

Quote from @Jaren Taylor: Quote from @Stuart Udis: Depending on the transaction sizes you are pursuing, raising money to purchase property without debt requires either an incredible network of relationships or devoting a lot of time and effort to raising money.

Most commercial lenders do not require any seasoning for that entity which means that you can create an LLC and use that entity to purchase the property immediately as long as you have the proper documents.

Our plan is to purchase again with a better mindset of turning that into a profitable rental.We have diligently completed all the necessary steps and are on the verge of signing a management agreement with a property manager.However, we are experiencing some doubts.  1.

So I want purchase it as my first rental property it's going to need rennovations for sure not terrible shape just older rancher home.

I imagine the only way it would be possible is to do the bulk purchase in cash, sell off a couple and then put debt on them?