I am assuming there are varibles we need when presenting to people for funding purposes as to how our aquistion plan is going to play out

I think you could easily find a money partner to put in the other $200k, but if you are able to get it to appraise for $2MM, you may not need it as a FMSBL is usually 75-80% LTV...

Hello BP,My business partner and I are funding a short-term private lending deal.

We want to sell the property, and use the funds to buy another property with multiple other investors.

He will fund the purchasing of the house (cash) and also pay for the rehab expenses.

I know that I could close this deal using a double closing with a transactional funding lender but of course I'd like to minimize my fees.

Read the by laws and make sure you check on things that the HOA covers to make sure they have funds to cover them.  

We don't want to tie up our ability to gets loans since we're trying to build our portfolio.So, I'm looking for advice on ways to fund this project.

I then stumbled upon a local bank, met, they said they knew the building and the history of it, and would advance purchase + rehab funds to get it all fixed up and rented out.

The in-place rents for the cash outlay are pretty low, but that's all relative...the repairs seem excessive...assuming an ARV of $650k and cash out at 70% LTV lands all of your cash back in hand if you do not do the reno...use delayed financing. $525k all in with ARV of $650k changes things quite a bit...you can't pull all your cash back out, but getting $350k back may work...What is your possible appraised value as-is?