I've just taught myself how to make institutional grade proformas for multi units on excel, but now it's really trying to understand all the metrics and how to apply them properly.

I was wondering if local investors in the metro Detroit area could share any names of local financial institutions that are easier to work with when it comes to changing ownership of a SFH or multi-family home building from Joint Ownership (husband and wife) to LLC (same husband and wife own the LLC).

You need safety to mitigate risk and some local institution to attract quality tenants and have a house worth selling one day. 

In that case, you would use private money as a short term bridge to permanent institutional financing. 

Just my $0.02Rich Dad Poor Dad books can provide some inspiration if both spouse participate in reading and discussing...

Most medium to large institutions are familiar with this process.

@Byron Beckford like most comments say, your best bet is a commercial or institutional private lender.

@Jason FoyHere are the general considerations regarding 401k loans.401k Participant LoansIf your 401k plan allows for 401k participant loans, the maximum loan amount is equal to 50% of the balance up to $50k.

This excludes your long-term partner from participating in any appreciation, but you could always choose to gift that, tax-free, up to $14,000 annually.  

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