The loan is limited to 50% of the balance of $50K whichever is less.  

Housing providers now required by law to offer lease renewals to tenants, and other major impacts of HB 24-1098.Grace Property Management is not an attorney firm, and this is not legal advice.

would hurt anything would be it might decrease the number of types of debt you have but I’d just be happier to have less debt and work on building up your credit score in other more positive ways like paying off some credit cards if you have balances on any of them.

Our lake home if we sold right now we probably would get top dollar anywhere between $600-$700k for it, or more, we owe zero balance on it. 

If they do not qualify for conventional loans most private money are business purpose loans and require you to put it into an LLC

Others may have a different opinion, but outside of a seller carry back up to 90% CLTV (still require some skin in the game, unless you go true hard money) 2nd liens on real estate for purchase transactions in the manner you're seeking are very difficult to get a loan against, whether it be a secondary market lender (private equity fund, balance sheet lender, family office, etc), and usually are seeking larger transcations ($1-3MM +) in this space, and are still capped at a max 75-80% CLTV (still wanting skin in the game).# 4 usually requires more explanation as its newer to the market (DM me if interested in discussing these options further), but all 1-4 appear to be potential options for you based on the limited details. 

Balancing a full-time job, especially one as demanding as a cloud solutions architect, with your new investment can be challenging, but very rewarding.

what is the mortgage balance, is it current, how many payments back, what are properties selling for in the area (is his price above or below others), *how much seller financing can the seller take,* how much cash above the mortgage would seller accept, how fast does the seller want to get to the settlement table, what repairs or up-dates does the building need - you could ask if you had $10,000 to spendon improvements - what would you spend it on?

Unless you are seeking a jumbo loan or high balance.

Regarding wholesaling, Illinois changed the law about 4 years ago which requires wholesalers, for the most part, to have an agent license.