@Chad Herring If you are lending under $100k, I am assuming it is just for the renovation funds, or for the down payment.….meaning it is likely that some Other lender has lent money for the purchase and possibly the renovation costs.

These are generally 12-24 month interest only loans that borrowers will generally pay back by selling or flipping to long term financing like DSCR loans.More on DSCR loans:DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

I have found a lender who will do a portfolio loan, partial release and no pre-payment penalty for both properties.

Don't rent to or make special accommodations for family members, especially when you don't trust them in the first place.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I also thought about a HELOC but i know if i use that as a down payment, that's another monthly payment I have on top of my first mortgage.

One property is a condo (in CA) that I rent out, and the other property is a house (in NV) that I live in and rent out the other rooms.I quit my W2 job last year to start a business, which is slightly profitable today, but I reinvest everything back into the business.I have a bunch of cash saved up and am comfortable deploying $100K into another property in Las Vegas ($80K down payment + $10K furnishing + $10K margin).The only problem is that I’m not sure how to finance my next house without W2 income.I talked to a few lenders about DSCR loans, and most say they calculate rental income based on the entire house, instead of by the room.I would love to get the creative knowledge of the BP community on how to fund my next home 🙏🏼I'm also open to any lender referrals 😊

Many nuances to all this but ... consult with a local roofer that you TRUST for the details.

Terrible customer service and withholding payments for service.

*If anyone was willing to quote me a ballpark for the below situation, I'd greatly appreciate it.After Repair Value: $165,000 Purchase Price - $90,000 Renovation Budget - $35,000 Loan: $125,000 (75% LTARV)Zip: 17103*If anyone feels compelled to ask, "if you don't trust him, why lend him money?" 

Build that trust, and you'll be the first person they call when something good comes up.Let's do this!