As the owner-occupier, a Lender should let you borrow up to (say) 80% of the value of their appraisal (in this case we are assuming $120k).

More to come.Julius The owner/property manager will be the ultimate vetter if you will, but we would like to assist them in this process to let them know that we at least made an effort to get responsible renters to them.

Those are very helpful for borrowing in an LLC.

(This is considered to be the same as total ownership of an individual property).Note: Other properties owned or financed jointly by the borrower and co-borrower are only counted once. Joint or total ownership of a property that is held in the name of a corporation or S-corporation, even if the borrower is the owner of the corporation; however, the financing is in the name of the borrower. Obligation on a mortgage debt for a residential property (regardless of whether or not the borrower is an owner of the property). Ownership of property that is held in the name of a limited liability company (LLC) or partnership where the borrower(s) have an individual or combined ownership in the LLC or partnership of 25% or more, regardless of the entity (or borrower) that is the obligor on the mortgage. Ownership of a property that is held in the name of an LLC or partnership where the borrower(s) have an individual or combinedownership in the LLC or partnership of less than 25% and the financing is in the name of the borrower. Ownership of a manufactured home and the land on which it is situated that is titled as real propertyType of Property Ownership NOT to include in Financed Property Count: Ownership of commercial real estate. Ownership of a multifamily property consisting of more than four dwelling units. Joint or total ownership of a property that is held in the name of a corporation or S-corporation, even if the borrower is the owner of the corporation and the financing is in the name of the corporation or S-corporation. Ownership in a timeshare. Ownership of a vacant (residential) lot. Ownership of a property that is held in the name of an LLC or partnership where the borrower(s) have an individual or combined ownership in the LLC or partnership of less than 25% and the financing is in the name of the LLC or partnership. Ownership of a manufactured home on a leasehold estate not titled as real property (chattel lien on the home).

Let me know if I can be of assistance.

Any assistance would be appreciated or will have to reach out to an attorney.

There are companies that will assist you in creating an LLC and obtaining "business credit" to fund your real estate deals (down payment/rehab).

Following is a good resource on the rules. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-prohibited-transactionsAnother option is to open a solo 401k if you are self-employed and then you can borrow $50,000 once you transfer the IRA to the solo 401k plan.

Have 203k pre-approval, looking for realtor in southern Bergen / Hudson county (Hasbrouck Heights, Wood-Ridge, West Orange, Maywood, Rutherford, Nutley) to help find fixer-upper duplex for owner-occupant w/ second re...

Firstly if it’s residential, you can’t borrow any of the down payment so likely it’d have to be commercial.Let’s say I have a 10 unit building for 400k.