If you finance (delayed financing exemption) within 6 months of buying the property with cash, you can take out up to your initial investment (purchase price + closing costs) or 70% of appraised value, whichever is less.

But being under $2,500 is not the only requirement, your total safe harbor expenses for the year have to be under $10,000 or 2% of unadjusted cost basis whichever is lower. 

This platform will provide you with an abundance of information and advice for whichever path you take!

Do which ever suggested approach you wish but in the end make sure you accept one of your other applicants.

Plan loans, if allowed, are generally limited to 50% of your account balance or a maximum of $50,000, whichever is less, and generally must be paid back within five years with interest.  

The other option that makes sense is setting up an equity partner who would front the money which I could setup an 8% preferred dividend  or 50% of the operating income, whichever is higher(50% would be higher unless major maintenance issues).

My thoughts process is:  whichever entity is taking the asset management fee will be treated like a 3rd party company to the LLC holding the property. 3.

@Zorya Belanger whichever is easiest (lol) I just want to get to the point where I’m signing on the bottom line for a good deal.

Whichever is easier, that’s the way I’d go.

The goal being to get this tenant removed as quick as possible; whichever method works the fastest.