I personally recommend that if you have good debt on the first one to take a heloc, and if your debt is meh to potentially look into cashout refi’ing on the 1st building and keeping your eyes open for the next opportunity :) Analyze both accordingly and talk to your lender as well as other investors to get their thoughts! 

Last year I paid for a “coaching” program, formed an LLC with an S Corp election because my intention is to make a lot of money, began putting my team together which includes the best realtor I know and contractor plus a few hard money lenders including one that will loan 100% of the purchase/reno after I get a deal or two under my belt.

Make connections with lenders, contractors, agents, investors, and mentors to acquire valuable information.

So you are already in it $20-$40k which makes it less profitable already - It can be done, but its a lot of work.You may be better off getting a private lender to fund the deal where you give them the majority of upside (80%+) - especially if you have no money in the deal. 

But any sellers looking to "become the bank" should be vetting buyers like any other lender would.

Lenders are concerned with the  real estate collateral and your creditworthiness.

Speak with lenders to be pre-approved for financing, and look into choices such as portfolio, FHA, and conventional loans.Use resources like the BiggerPockets Rental Property Calculator to thoroughly analyze offers in order to assess possible cash flow, return on investment, and other financial parameters.

The core 4 consists of a realtor, contractor, property manager, and a lender.

Can any one refer a lender that can finance an SRO?

An IRA can use financing from a lender or seller financing to buy real estate.