@Chinku Chinku how is paying the loan balance down going to help you reach your goals?

So for the first property which will cost over $1 mil to construct, there will be stacked loans, essentially $280K will come from loan assistance program,( the name is not correct but the same idea).

Quote from @Havital Miltz: Wow a bit of a sticky situation, did you have a conversation with the seller, directly or thru your realtor prior to the closing to find out if the tenant knows they are supposed to move out?

HUD.GOV is originating source for FHA loan info.

Would a HELOC or home equity loan on my personal home be a good idea to fund this?  

FHA loans require living in the home as your primary residence for 1 year after purchase.

If it is a good business with a hard to finance issue, he'll work with the loan team to figure out how to lend to them.

Context:I’m seeking advice from those experienced in real estate investing and financial freedom strategies.I recently bought a multi-family property in Newport, RI, using my VA loan for $695K.

The lender is pushing you to do this to get an FHA loan.

If you have any loan questions feel free to reach out.