Our members use REIFA to match borrowers with lenders.

Also, I have another property (Condo, paid off, worth ~$300k, rented to the same tenants for 9yrs) that I’d borrow against as well.

I put 25% down, borrower the balance from a friend and became a property owner for the third time.  

Find out how much you can borrow, where you want to invest and what that money will buy you in that area.

The private lender will require the borrower's signature on several disclosures and affidavits, a promissory note and a security instrument.  

During times when banks are risk-averse and reluctant to lend money to any but the most creditworthy borrowers, seller financing can make it possible for many more people to buy homes.

The details are below: • Estimated Rehab: $20k• Funds left over after 3.5% down & closing costs: $4k• I plan to do all the work myself to save costs• I am dead set on doing all rehab prior to househacking • This is my first rehab so I plan on borrowing tools where I can.

I too started with about $25k, most of which I borrowed from my 401k for my down payment on a 4 plex.

Hard money doesn't consider your DTI (debt-to-income) it only is qualified on the property financials, borrower liquidity/credit/experience.

There is an exception to get a 2nd simultaneous FHA loan however you'll have to have one of these 4 situations to qualify along with 25% equity on your current property which it seems like you do (close enough):1) larger family size (evidenced with medical pictures/documents for legal adoption/birth certificates)2) You were a cosignor but not currently occupying a property of another FHA borrower and now you want to buy or qualify for your own FHA home loan3) legally separate from an exspouse with which whom you shared a FHA loan together on a home and now you want to qualify for your own FHA home loan4) you're relocating for a job (need employer offer letter signed/dated by employer or HR)Your other issue with qualification is DTI and that is often true that its capped at 45% DTI or debt to income however you can also go up to 50 or 50.5% too so there might be some room to work towards there to get that additional borrowing ability.Paying down your existing loan is probably the worst way to obtain more qualifying ability especially when your current note from FHA on your current property is at 2.70% as you mentioned.