Some Lenders do take issue with "gift funds" or other liquidity provided by partners who are not on the Operating Agreement.

He probably does not like real estate or alts either for the same reason, but annuities are just easier to jab at and are more liquid. 

Have 100k in liquid capital. 

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

You then can apply for financing after you close in cash - so you have to be liquid. 

I dont have much specific advice to help you with this one as it appears you may have just blindly trusted the system you bought into and now find yourself in a pickle.with these types of assets it rarely gets better so careful throwing good money after bad.U may need to just liquidate and and regroup.I dont suppose the company you paid for all this education and system is stepping up for you hear in a financial way ??

LL Flooring, formerly known as Lumber Liquidators, is closing all 430 of its retail stores after failing to secure a buyer during its Chapter 11 bankruptcy process.

He has $100k liquid set aside for investing and asked my advice on where he should start.

You could pull out cash tax-free and still benefit from depreciation and other deductions on the rental side, which could reduce your tax liability.Quick Tax Comparison:Selling:Capital Gain: $160,000Tax Due: ~$32,000 (at 20%)Net After Tax: ~$128,000Refinancing:Loan Amount: ~$263,500 (at 62% LTV)Tax Impact: None on the cash-outRental Deductions: Continue benefiting from depreciation and mortgage interest deductions.Refinancing offers liquidity without the immediate tax hit and lets you maintain rental income, making it potentially more advantageous.All of these are rough numbers of course, but just some different ways to think about it!

This is not going to work and you will be spraying money into a lake.