Does anyone have any sugestiins how i can purchase a building like this with this amount and finance the rest rather than tking out helocs or refiOr should i just use this ant for a 500-600k smaller multiples with less cashflowSorry typing from a tablet

As far as I can tell, HELOCs are non-existent for investment property.

You are seeking entity financing---something like this one:Documentation: No Ratio, No Documentation Main Credit Score: 400 Credit History: Very Poor Debt to Income: N/A Occupancy: Owner Occupied, Non-Owner Occupied Loan Amount: $200,000 - $50,000,000 Lien Position: 1st Mortgage Cash Out Amount: $50,000,000 Loan Purpose: Bridge Loan, Purchase, Rate and Term Refinance, Debt Consolidation, Cash-out, Heloc/Line of Credit, Construction, Forward Commitments, Equipment Purchase, Unsecured Loan, Business Loan, Equity Capital, Venture Capital, Credit/Asset Enhancement, Takeout (const-to-perm), Home Improvement - Value After Improvements, Rehab, One-Time Close (const-perm) Property Types: Five Plus Units, Mixed Use, Farm/Ranch, Condo-tel, Retail, Warehouse, Raw Land, Hotel/Motel, Office, Care Facility Housing, Special Use, Industrial, Gas Station, Other Commercial Types, Office Condo, Non-Warrantable Condo Rate Types: Straight Fixed, Adjustable, Hybrid Amortization: 5 Years, 20 Years, 25 Years, 30 Years States: AL, AK, AZ, AR, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, International Special Features Drive By Appraisal, Borrower is a Corporation, Borrower is a Church, Borrower is a Trust, Borrower is a Foreign National, Non-Permanent Resident Alien Allowed, Borrower Owns Over 10 Properties, Mortgage History Only Reviewed, Bankruptcy May Remain Open - Ch.13, Bankruptcy from Filing Date - Ch. 13, Currently in Foreclosure, (bailout), Borrower with NO Credit Score Allowed, Score Only, No Credit History Reviewed, No Form 4506 Required, No Reserves Required, Gift Funds Allowed, No Mortgage Insurance Required, No Seasoning Required on Funds to Close, No Prepayment Penalty Required, Interest Only Payments Available, Less Than 2 Years Employment, Self-Employed, Non-Recourse Allowed, Recorded Land Contract Allowed, Unrecorded Land Contract Allowed, Less than 12 Months Seasoning Refi, (using purchase price), Leasehold Property Allowed, Less Than 2 Years Employment, Wage Earner, Rural Property Allowed, Seller Seasoning less than 6 months Allowed, No Minimum Number of Trade Lines Required, Less Than 12 Months Seasoning Refi, (using appraised value), Lease Option Allowed Regards,Scott Miller

Get a home equity line of credit (HELOC) on your house.

In this case, they would finance the whole 60K, and I would need to 'assign' 18K worth of the Cash Value of the Insurance Contact.What would be the 'pros and cons' of the HELOC vs 'assigning the collateral' in this case?

HELOCs on investment properties are hard to get and money out refi's even worse.Using bank leverage to maximize your cash on cash return leaving liquid assets to use on other investments is often the technique used by experienced investors.

You might also look at a HELOC if you have just a few years till your house is free and clear.

To finance my second rental property I am taking a HELOC out on my primary residence. 

Similar to a HELOC, the recorded doc shows the max. line of credit.  

My goal is to start slow and eventually be able to do this full-time.We've steadily accumulated equity in the property we're in as we've continued to improve it, and the last appraisal we had (October 2012) had a value of $280,000, so I'm hoping to tap into that via a HELOC to fund purchases.