I think you're going to have a hard time finding MF properties that give you positive CF using a PM in most of Phoenix. 

.✔ Can structure with interest-only payments or equity split.Best Approach for You?

@Robert StephensonYou’re in a great position!

The last few STR deals I closed where my client used a second home loan, they ended up putting down 20-25%, preferring to have more equity in the property versus giving away thousands in fees to the lender. 

One has no mortgage, their other has a HELOC for around $20k remaining and is coming to its 10year term that was established before placing with LLC.My predicament is how/best way to pull equity out of either property for a down payment for the 3 family that is valued around $450k.

So, the extra unit may cost you more then it brings if you cannot access equity or if the market discounts the property when you go to sell due to financing available.

While creative financing options are interesting, having more cash on hand seems like it would put me in a much stronger position and open up better opportunities.That said, I’m still curious—at what point do you think someone is truly ‘ready’ to start investing in real estate?

@Aristotle KumpisPossible yes likely no unless you have a ton of equity in other deals that can be cross collateralized

@Roger KimBe careful about gifting twice as well - if you own 50% of the home and give him the full 100% of the proceeds, perhaps it could be considered as a gift from you to him of your 50% of the equity (likely recorded by formal deed prior to the sale). 

Most will cover up to 100% of the renovation costs and 70-90% of the purchase price, depending on factors like the type of property itself, your experience, credit position, and the lender’s specific guidelines.