@Simon StahlYou could always pool your IRA funds with other investors when investing in real estate.

Andrew used 75% of ARV which is the typically the Loan to Value (LTV) ratio Lenders use for Refinance loans.  

I am looking for creative/low cost ways to fund a spec home and have a question about pulling equity out of my current residence.I have a newly built homestead house that was just appraised at $260k.

So if each property is a quad you can have 40 units conventionally financed.As  for the $150K equity you do realize that typically on refinance investment property you can typically only get 70% LTV. 

While I have lending lined up with a 5 year balloon, 20 year amortization and I'm ok with that, does anyone know of any lenders specific to Illinois that have longer term fixed rates for a cash out refinance assuming the proper appraisal and LTV?

I have a couple personal relationships who are looking to "flip" commercial businesses to real estate investment funds. 

For example if someone says "I am NOT a cash buyer, I am NOT preapproved, and I intend to write 100 lowball offers with no proof of funds or preapproval!"

Hi @Sanjay Patel -- Welcome to BiggerPockets.I'd be happy to provide you with a list of investors in our Private Lending Program who are happily earning interest on their funds.  

I think we could still get a loan and buy a duplex which would help us with the funds for our current project.

Almost a year later they took the funds back from me and wouldn't honor the payment and left me on the hook for it.Airbnb on the other hand has paid me in full for all damages and any other problems I've had.