It is not exact but will get that specific investor fairly close.I am not sure what product the original poster was going for but this topic quickly moved to large apartment door complexes and that may or may not be appropriate for the original question.

Why isn't this just like a slow flipPeople borrow hard money to renovate to flip.  

Has anyone heard or aware of this group, I believe they are a subsidiary of Ocwen.They have one product that is Line of Credit for LLC business: LOC-500K- $5mm ,FICO Score 650, LTV 70% or LTC 80% of purchase Price, Origination fee 1% of Line Amount, Closing Fees $1,850.00.Liquid Assets Required of your Credit Line 20% Example: 500K at 20% 100k Liquid Assets.Rate 9.95%Line is open for 2 YearExample if you get 500k LOC 1% of equal is $5,000 plus Closing fee $1,850.00.Looking at $6,850.00 before you get the money.Any Opinions on this would be appreciated, sorry for the lengthy @ mail and maybe some of these questions need to be posted in different Forum Page.Kevin Koy

Are there any downsides (other than paperwork and slow bureaucracy) that we may not be seeing?  

Another solution is for the multi-member LLC or partnership to distribute money to members in kind in the form of exempt financial products.

You may sell any kind of real estate held for productive use in business trade or investment and purchase any other kind of real estate to be held for productive use in business trade or investment.Residential rentals exchanged for real estate used to house and conduct your business would qualify.

The big frustration is that they are VERY slow to issue permits.

The regional banks too have some good products to offer and provide the best of both worlds.... home town friendly and big enough to offer stability, competitive rates, good features and good service. 

There is a mortgage product where you can put down 3% downpayment and have lender paid PMI in exchange for a higher interest rate.

Even if it's slow, if you're acquiring new clients at a profit, you are winning the internet.Hope that helps!