Even if such a loan existed (which I doubt), once Vincent self funds all improvement costs, finance charges, carrying costs etc., I doubt he's any better off.

Proximity to Major Northeastern CitiesBuffalo’s location near major urban centers like New York City and Boston makes it an attractive alternative for buyers seeking more affordable housing without sacrificing access to urban amenities.5.

Specifically, under a properly structured Trust the following limitations will apply during the period that the property is held by the Trust: (i) the Trust cannot raise new capital; (ii) other than in the case of a tenant bankruptcy or insolvency, the Trust cannot renegotiate or modify an existing loan nor can the Trust refinance or enter into a new loan during the period that the property is held by the Trust; (iii) the Trust cannot renegotiate or modify its existing leases or enter into new leases other than in the case of a tenant bankruptcy or insolvency (in the case of a Trust that adopted a master lease structure, this limitation applies to the master lease and not the underlying third-party leases); (iv) the Trust cannot reinvest the proceeds from the sale of the property; (v) the Trust cannot modify or improve the property other than undertaking normal maintenance or minor non-structural repairs; (vi) the Trust cannot hold its reserves other than in cash or short-term obligations; and (viii) the Trust must distribute all of its cash, other than cash held for normal reserves, on a current basis.

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

To get access to the maximum amount of equity, I would recommend Tower Credit Union.

OP, keep in mind not having access to heating and sharing same water heater and etc will require an easygoing tenant in the nextgen.

Centralize your back office / use remote employees / VA where appropriate to cut costs and improve service levels / responsiveness.  5.

My suggestion to improve your cash flow is to find another bank/lender.

Realtors should have access to that information as well.

The borrower gets the benefit of having access to capital fast and the lender gets the benefit of charging a higher interest rate and not having to pay taxes on the profit.