Should I ask if he has a loan on the property that is assumable?

Hi AllI am from CA and finally pulled the trigger on a strip mall in San Antonio.

You could do an 80% LTV cash out on a DSCR loan, however you will need to be able to debt service at the higher loan amount and rate to qualify.

I'm assuming that what you describe as a "hard money loan" really is a "hard money loan". 

Thank you in advance. ( Also I'm in the middle of BRRR book so I'm feeling motivated ) I think the minimum credit score for a conventional loan is 620 and for FHA it's 580.

Can I use an fha loan for a multi family property new construction?

It must be a "line of credit" where I can make draws, and not a home equity loan. 

If there is enough equity within the properties based on their appraised value, you may be able to do a packaged loan for these two properties and then have enough equity for a down payment on another property.

But with the financed deal the renter pays the mortgage down allowing you to tap a percentage of the equity as a tax free loan.

I’m finally approaching a place in life where I can begin to start investing and am looking for my first deal in Illinois!