If I were liquid enough to do so right now, if offer you the $45,000 in exchange for 10% of the property and the right to liquidate my investment on or after April 1, 2017 (when you can refi).

I am most curious how to secure financing when I don't have much liquid assets.

One less tenant to deal with and a SFH is easier to sell if you want to liquidate at some point

For instance, if both this property and your primary residence is paid off in 15-30 years, depending on your retirement window, think of the value provided there in terms of regular income and equity available for liquidation.

Sam Zell is taking the approach to liquidate his many of his suburban properties as well.OK.

IE the contractor needs to have some liquidity to actually "start" the project, before they get paid.As for the legality of "adding on a room" I looked into it as much as I could.

My wife and I are trying to break in to the real estate game and we have local investors, we have liquid cash we could use, and we also own a lot in a wooded area with deeded access to a large lake in Wisconsin on Lake Petenwell.

@Jake Larson welcome to BP - my advice: use your cash position to parter with an experienced and successful, less liquid investor on your first flip.

Loan funds are not considered liquid funds so it takes work to manage those redemptions schedules.  

You will also need net worth and liquidity for the loan.