The owner has terminal cancer and is liquidating his assets.

My wife and I are just under the threshold for becoming accredited investors and to be frank we are not liquid enough currently to send off large sums of money for lengthy time frames at this point.As a little bit of background I've done several personal loans to active real estate investors this year for various small amounts 5k 2 months 2k fee, 6k 6weeks 1.5k fee, etc with promissory notes and all the standard things that come along with them.

We will usually shop for an item we want then just go home and look them up and buy cheaper.Water Heaters Banks liquidation in Norcross

If you're just shy of meeting debt coverage, we have still been able to get approval without a larger downpayment based on the buyer's experience, global cash flow across their portfolio, and liquidity. 

@Mack MarchandHi Mack,A good starting point might be: https://multifamily.fanniemae.com/They are a major large multi-family lender with different loan programs available.Start by knowing:(1) what a Sponsor is, (2) a Key Principal is,(3) borrower requirements regarding net worth, cash liquidity and experience.

@Richard CumberbatchHi Richard,I'll preface this answer by saying that my experience is in the alternative space with HML and private lenders, so this will likely not apply if you choose to pursue more traditional financing.With that said, here is one way that you might be able to do it...You mentioned that you would like to use your US properties to obtain a LoC, and it sounds like there are a total of 4 properties you own in the US; 3 parcels of land and a free and clear house.Unfortunately, the land, given its value, is not going to be very attractive to lenders.However, you can pull cash out of the 200k AIV (as-is value) investment property, and then use that to set-up a LoC, for example at 3-4x that liquidity amount (some lenders might offer more leverage than this).In practice, here's how that would look:- Pull cash out of the 200k AIV property (say at 65% LTV, which is a conservative estimate)130k cash out- Use cash out to generate LoC at 3-4x multiple130k cash out * 3 to 4 = 390k to 520k availabilityHope this helps,Michael

The cool thing in this scenario is that you have options.It looks like there are a three ways you can access the liquidity you need to do this first flip project.1.

Typically commercial lenders underwrite heavily on the asset / your track records rather than income (But your current liquidity is important too!) 

They make six figures but have one credit account that has a high revolving balance, which they pay consistently (no late fees or etc.) the lender they are using to close a single family home is asking that they show additional assets that could be liquidated to take care of the full balance of the credit account.

According to the article, the $75 Administrative Fee is probably still illegal since the laws sort of state that landlords can charge only for liquidated damages and there is really no liquidated damage caused just because a tenant pays you late.