Or a commercial loan 25% that is an$400,000 deal.  

But with the financed deal the renter pays the mortgage down allowing you to tap a percentage of the equity as a tax free loan.

We are open to getting a home renovation loan and finding something cheaper and renovating, but we still can't get into the prime areas for the budget.We have been advised to make sure to choose an area insulated with good schools and parks but that's just not possible with our budget unless we go to the suburbs, which we are not willing to do.

I know loans can take 30 or more days to close.

These properties are NOT under contract yet but I need/want to secure financing before an offer is made.

Need advice from investors who have done 6 months buyout of loan partnersScenarioInvest 50 k, loan partner invests 50 k , buy using DSCR in a LLC for STRAgreement using attorney is, pay 60 k to loan partner after 6 months and then LLC has only one member which is me and I control that propertyAnyone done this or a  variance of this?

Since the property is there, I can only do investor loans in AL, but from a consumer standpoint you can do Conventional, FHA, VA, and USDA as a renovation loan where you take the cost of the property plus the cost of the renovations as your purchase price up to the value of an "As-Repaired" appraisal.

They are working on a refinance of a private loan I am the lender on and I am just looking to see if they are the real deal or not.

Loan Options: Utilizing an FHA loan is helpful since it requires little down.

Make sure that your lender/loan officer is willing to get on a call with your lawyer to help out with any discussion/details to dial the agreement in as much as possible.