Purchase price: $310,000 Cash invested: $350,000 This was a full rehab 6 unit multifamily building.Our firm did everything from locating and acquiring the project, to managing construction, and then finished up by leasing out all 6 units for a premium rent.We used a construction loan to secure the property and do the rehab. 12 month term which we were able to do construction and lease out all units before taking out the original loan with a permanent commercial loan.

Looking at a unique property which is a 4 bed / 2.5 ba main house, with what is essentially a 5 room motel semi-connected to the main house via a breezeway.  

So we keep $25k for the two (both are cash flowing and we have held for 10 years).

I am considering two options for purchasing a A+++ SFR cash, Option 1 to place in a self directed IRA and let the IRA own the property and Option 2 is to buy in cash upfront and pay the taxes owed.I am 62 years old and have another five to seven years prior to retirement and so I am trying to set up my portfolio for income generation by that time.

My problem is I'm trying to 2 more properties this year, and pay with cash.

I have been offered an exclusive Deal by a local "friend"/ semi-mentor in my small town.  8 standard 2/1 apartments -  Quad, duplex, duplex, 1970 Dated buildings, little neglected but liveableOwner finance: 20yr 6%rate with 20k down------------------------------------------------Total purchase 400KCurrent NOI: 41k     Cap: 10         (Tax,Ins,Maint, Util)Gross rent 4500/mth-----------------------------------------------Upgrade, Est repairs: 60k After reno: NOI: 59K   Gross rent: 6100------------------------------------------------Loan pmt: 2865/mth,    34k/yrCurrent Cash flow: 531/mth,  6,378/yrAfter reno Cash Flow: 2131/mth,  25,578/Yr-------------------------------------------------Added info- -Property line Joins with (growing) Community college-Tiny town-The Buildings are Currently "uglyish".- Current Rent is 150$- $200 behind market avg.I am very comfortable in single family homes in this town (own 18 SFH rented and performing well).

It's a more expensive market than the Midwest and the short term cash flow is lower and that is the trade off for being a few hours away in a landlord friendly state.

Generally a HELOC is second position and might have seasoning requirements (ownership of 3-6+ mos) you would need sufficient equity to essentially 'recapture' your down payment. 

My goal is to not burn up all my cash with a down huge payment, but find other investors to partner with and share cash flow or equity, and keep some of my own cash liquid reserved for repairs/emergencies.

Don't do Cash out refinance that's a mistake.