The process takes about the same amount of time since an appraisal and title work is generally still required before underwriting and funding the deal. 

Right now, you have a property with a great equity position, solid cash flow, and cheap debt (interest rate is low). 

The loan has come to term and they can’t maintain the property and the current interest rates.

Nothing illegal about doing that, but if caught, the lender may call the loan due and if you don't correct the situation or pay the loan off, they willstart mortgage foreclosure.3) You could also go the HELOC route to tap the equity in the home, but the 12-month owner-occupancy will also apply AND the interest rate on the HELOC will fluctuate with the Fed Fund Rate.4) You could do a cashout refi as an investment property, but that will be at an interest rate 0.5-1% higher than owner-occupied rate.Suggest you meet with 2-3 lenders to explore your options about the above.Once you have access to funds, recommend you buy a 2-4 unit with 20-25% down. - You can buy owner-occupied, live in one unit, and fix up and rent the other unit(s).- If you're handy, recommend buying a property in the worst condition you can tolerate.

Definitely don’t cash out your retirement funds.

Was fortunate, due to savings throughout military deployments to appropriately save and fund two properties back to back.

when your in a fund U have an interest in a fund that then has interest in RE and you are once removed from an control.

Is it doable - yes but you will need to go to a lender who probably uses their own funds vs. an instituational lender as they will not like 2nd position nor the low amount.

That way, you could use Hard Money to fully fund the rehab before refinancing to agency. 

How we funded itThis was a single asset syndication.