You're basically hoping the bank doesn't notice and call your loan (Which is totally in their rights to do). 

Well then you should know the basic closing costs.....title search/insurance, deed/mtg recoding fees, closing fees, mtg docs prep, etc. and also which party typically pays what in your market.  

I have never heard of it before and thought refinancing was not available since we own the home and we basically have a personal loan.

I think that there is plenty here.These are basically $600 rentals by the looks of the gross income.

Hey All, Here is what I learned about funding / structuring deal for multi - family, would love to know any other way people fund / structure their deals:Downpayment (your own money) + commercial loan - No SEC involvementDownpayment (partners money) + commercial loan - No SEC involvement, partners need to have specific roles defined so that they dont get categorized as passive investors Downpayment (passive investors money, preferred returns) + commercial loan - SEC approvals neededWhat are other basic ways to fund a large (> 5m)  size deal

I’m not looking for a huge renovation but something that needs the basics.

Hey All,Here is what I learned about funding / structuring deal for multi - family, would love to know any other way people fund / structure their deals: Downpayment (your own money) + commercial loan - No SEC involvementDownpayment (partners money) + commercial loan - No SEC involvement, partners need to have specific roles defined so that they dont get categorized as passive investors Downpayment (passive investors money, preferred returns) + commercial loan - SEC approvals neededWhat are other basic ways to fund a large (> 5m) size deal

Go spend a year or two putting families in homes, focused 100% on that, and nothing else, not even having the mental capacity to ask unrelated questions (you're working 70 hours a week getting your super basic-level business just barely up and running, you don't have time for such nonsense).

Basically if you were just looking for a passive investment, out of state has higher returns, the numbers don’t lie.

Basically I'll need to figure out a way to raise the ceiling in the living, dining, and kitchen.