I would assume the mortgage would need to be changed because it's a personal loan. 

Many options only require a soft credit pull, and depending on factors like location, experience, and credit score, lenders can offer leverage of 85-90% of the purchase price plus 100% of the rehab funds.

Have LLC 1 provide the funds for thepurchase and provide a mortgage to LLC 2.2.

Here are some tips and insights to consider as you begin building your real estate portfolio:Options:Refinancing: If you have equity in your condo, consider refinancing to access funds for future investments.Investment Loans: Explore options like conventional loans for financing future rental properties.HELOC: Depending on your equity and financial situation, a Home Equity Line of Credit (HELOC) could provide flexible financing for down payments or renovations on new properties.Build a Financial Strategy:Budgeting: Create a detailed budget that includes mortgage payments, property taxes, insurance, and maintenance costs for your rental property.Cash Flow Analysis: Calculate expected rental income versus expenses to ensure positive cash flow.Emergency Fund: Set aside funds for unexpected repairs or vacancies.Research the Rental Market:Location: Choose rental properties in areas with strong rental demand and potential for appreciation.Tenant Profile: Understand the demographics and preferences of renters in your target market.Market Trends: Stay updated on rental market trends and local regulations affecting landlords.Property Management:Self-Management vs.

Some hard money lenders may offer better leverage but the interest rate and origination fees will be higher.  

My dilemma is that I worry that commercial lenders won’t fund any renovations or wrap it into the loan.

@Kyle KingIf you don't get the answer you are looking for I would suggest connecting with a lender in your area. 

You can also just click on the "Lenders" at the top of this page and a lender will reach out to you. 

Given thatmany tenants will make their car payment before their rent payment, we’ve copied the mortgage industry’s methodof debt-to-income (DTI) ratios.

I only ask, because most people are not sitting on $400k cash (obviously this is just my example) to effectively buy a new house without a mortgage.