Your options are different if you buy it in your own name vs. an LLC.I like credit unions, because they are member owned (in comparison to private or publicly owned) and often have lower fees.

No commercial lender and virtually no private lenders will loan you money, because of the absence of title insurance.

I see a lot of private lenders have 1 year loan terms.   

Hi all. So I have saved up around 130K. Thinking of using this as a downpayment to get more loan from Bank (Very Bankable due to my W2 Jobs). My dream is to be a part of Apartment Syndication team but despite of going...

Because there is a business in the mix you are right that you will need to head towards a business loan or private money.

Do you use a bank or private lender?

I have a very flexible private money lender who is willing to provide funds to acquire a house at auction. 

I have used findtheseller.com and Private eye.com. 

No commercial lenders will talk to you at the $20K level (about $50-60K would be the bottom end), but private money and some hard money lenders might be an option.Flipping of houses is considered a business and is therefore not entirely tax-sheltered in the IRA. 

Private and hard money lenders also want to see that you have "skin in the game."