I don’t think I could qualify for lending through a traditional lender so I need either private money or a hard money loan.

I purchased my first house as my primary residence in 2011 for 107,000.

We are selling our primary residence and purchasing a new primary residence. 

I would drive through different neighborhoods on my way to work compiling a list of distressed properties that I intended to try and track down the owners and while I was doing that someone contacted me with a house that they wanted to sell.The property needs roughly 15 - 20k in repairs but once done the property should have about 50k in equity.I am trying a mix between the house hack and the brrrr on this one.I am purchasing the property as a primary residence and will live in it as I make the repairs.

We've come across plenty of properties that we were looking to pick up at auction just to find out there are other liens on the property, not just primary mortgage.

Hey BPers,I'm in need of some solid advice/guidance in my situation.I currently have a SFR primary residence in which I rent out two of the rooms.

I wasn't able to purchase a multi-family property, but I did a house hack through college in a traditional house.

My primary focus is wholesaling & acquiring rental properties.

This is very certainly the case to buy as a rental; however, when transitioning from a primary residence to a rental it can sometimes change.That being said, I completely agree that you need to sell this property.

Are you asking about getting a HELOC on your primary residence to use to buy a rental property?