More common is 10 mortgages per borrower.

In theory you are asking about borrowing the cash out if you want to retain legal and economic title.As All Cash implies there is a bigger context in most cases.

97% financing is available from some commercial lenders---usually reserved for owner occupied transactions for borrowers with higher scores then you state.Another obstacle you are going to be up against is the property type you wish to finance---restuarants are perceived with a higher risk then apartment buildings and the end result is a lower LTV allowance.

I don't know who everyone borrows money from, but these are the steadfast rules that are applied.

I assume that normally I would never have to pay taxes on this money because it is borrowed.

Sunk $70k in top to bottom repairs, new kitchen, roof, windows etc. and did not borrow more than I absolutely had to. 1031 exchange replacement.

Emotionally the borrower/owner has checked out.

Lender is high bidder at auction and bids minimum bid so no money isowed to Borrower.

You should have no problem retitling your property under your LLC's name and reissueing the loan under the LLC as well with a guarantee signed by you and your partner to the bank.Probably get away with about $750 in fees with the Lawyer and bank fees.The attorney will do a retitling so that will save you money instead of a full closing.JoeJoe,I doubt very much that the lender will be OK issuing a new loan or otherwise taking the borrowers off the present loan.

I will be getting it appraised after I figure out what I will purchase next and how I will be using the equity in the industrial property.A conservative guess is $80-100,000 in borrowable equity in the property (taking 80% of the appraised or FMV).What is the better way to utilize this equity (or cash) that I have?