Hi Hoa,- Hard money is fast efficient, expensive,  it has high rates and points and shorter term 6-12 months or less typically with extensions available- HELOC typically has no points but prime + 2-3% margin right now is almost the same rate as hard money and closing costs are a lot less than hard money and you can rinse and repeat and reuse it after paying it off so yeah overall its better than HML (hard money lending)Thats just the beginning of your research, the reality is in real life you might need both sources, make sure to have both ready and start with the best execution or option first and always be ready to use the others if the need arises.rehabbing is messy AF especially on older housing Illinois housing stock from 1895-1940's.

That means shorter loan terms, higher qualification hurdles and floating rate or balloon components.Finding financing for multifamily properties in the 5-10 unit range typically means local banks and credit unions, or small balance commercial lenders.

The people who are doing it for shorter stays are either unincorporated or grandfather-in. 

CDs are fine, but that's just a shorter tenure.

My understanding is that the bonus depreciation is based on things that have a shorter lifespan than the house itself.

It will be triggered upon sale OR refinance, so if you think you might want to refinance in the next couple of years (or at least have the option), you may want to consider a shorter penalty length. 

The shorter the prepayment term has an impact on increasing the rate.4.

Bonus depreciation is derived from the portion of the property's value with a shorter useful life than the buildings themselves.

The shorter the prepayment term has an impact on increasing the rate.4.

Additionally, you'll need to locate a property with either a vacant unit or a shorter lease that could be canceled, allowing you to occupy a unit as your primary residence, as required by the terms of your low down payment loan.