@AJ Dhillon I’m not as familiar with Canada but in the states I can get financing with local banks either through their commercial division or a portfolio loan that they don’t plan to sell off even without a w-2 job.

Hi BiggerPockets community,My friend and I are going to close on our first property (4-plex) together and we're wanting to transfer the ownership into an LLC.

SBA does not lend directly they only lend through approved banks and for real estate purchases SBA requires the loan to be provided only where the building will be at least 51% occupied by the "business" getting the loan.  

@Oscar Beteta I would tend to agree but there are quite a few commercial banks that will also consider recent sales and the income for evaluating the appraised value.

I worry a bit though that it will be tight, and that I’m banking on appreciation a bit.  

We bought it with conventional financing and immediately transferred it into an LLC we setup with its own business bank account and such.

You don't need to involve the bank (if you do, it will kill the deal) but you do need a purchase and sale agreement with your in-laws & to do the transaction through escrow and use a title report.

I used conventional financing through banks.

My PM has, over the last several months, has stopped depositing the rent money into my bank account, stopped providing monthly statements and generally ignored my emails.Thank you,Jason

If you want to purchase a home in Chicago that is bank owned and has been foreclosed on, how do you go about finding out what bank owns it and how do you purchase it?