Before investing, get to know how investment works, what is happening in the market nowadays, where and how you can fund it from, and finally analyze properties available.

Private Money Loan

I've spoken with a few mortgage lenders about FHA and conventional loans.

Hi group I’m looking for lenders that have programs for heloc on investments properties I’m in lake county IL right now I believe is better to do a heloc or 2nd loan because if I do cash out refi I be loosing cash flow or any advise 

Yes, funds coming from your wife will be considered a gift if she is not a borrower on the new rental loan. 

@Nathan Gesner 1) if you’re investing with a spouse make sure both are on board for self management or it will harm the relationship. 2) it’s a business, not a charity, so if you’re susceptible to hard luck stories from applicants/tenants, don’t self manage. 3) water heaters, heat and a/c, plumbing only seems to break down when you’re finally on vacation, so have good contractors in place who will go on your call and let you pay them from out of town.

A lender needs to know what problems their loan products solve and what they don't. 

Find qualified partners such as lawyers, accountants, managers, loan specialists, insurers, etc.Good luck!

Lessons learned is to ALWAYS have capital liquid for fixes and damages in the property and to always background check your tenant as a bank looks through your payment histories to give your the loan same with the tenants our current tenant has not missed a payment in 2.5 years, w/ a stable job and kids.

But there comes a point where it just does not make sense to even do the loan and it becomes a game of who will do it for the cheapest.