I work with several private & hard money lenders who specialize in funding BRRRR projects and can offer more flexibility and quicker turnaround times than traditional banks.

@Tayvion Payton   -  my guess is that you are still too far off the price, at least in the interim but it is always good to put in an offer, because they may come back to you down the road. 

Off market and the new the owner used an agent so I reached out to the agent and made an offer How did you finance this deal?

By focusing on cost-effective improvements, investors can significantly enhance property value.By first Identifying which renovations offer the highest ROI—typically kitchens, bathrooms, and curb appeal. 

The manager offered to repaint one of the rooms during a turnover and we told him he didn't owe any rent that month.

Of course there was offers to register for more courses and mentoring  and various up sells, but you will find that at any seminar. 

Is there a pre existing loan with that bank with either of you?

If funding is the priority, using a HELOC while keeping the property in your name offers flexibility.This post does not create a CPA-Client relationship.

@Thomas Farrell The BRRRR strategy can be effective with $400K in capital, especially in a market like Augusta, GA, offering affordability and rental demand.

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.