I have a potentially high cash flow opportunity I don't know how to capitalize on

[Chris Bishop]

I managed properties for my father since I was 12 (now 32) and am prepared to do what it takes to renovate, manage and maintain a sizable portfolio. I have 100K cash saved up to begin investing and am ready to leave my day job if all goes well in the near future. My opportunity is a 10 unit 1 bedroom each building ~8K sq ft. for ~550K. The exterior needs a lot of work but the interior is finished and ready to go with less than a weeks renovations. Each unit has historically rented for 800-950 each and is in a desirable area. There are no active tenants, but this appears to be the opportunity Ive been waiting for for a long time. I promised my wife I would purchase any rentals without personal guarantees so as to protect our house and livelihood, but I cant see a path to getting a loan for this property that gives me a couple months to get it renovated and occupied. My personal credit is over 800 but the LLC is only a few months old and I have no collateral beyond the 100K. I have experience managing/renting for others but this would be my first personal company owned acquisition. Whats the smart move here? Thanks!

[Min Zhang]

That sounds like a huge step forward, Chris. Having $100K saved and two decades of hands-on experience managing rentals puts you in a stronger spot than many first-time buyers. The challenge here seems to be less about the deal itself and more about structuring financing in a way that doesn't require personal guarantees. Traditional banks usually won't do that on your first larger property, especially with a newer LLC, but alternative routes exist. Some investors look at commercial or debt service coverage loans, others bring in a partner to share risk, or even structure a bridge loan while stabilizing the building.

One thing to weigh carefully: vacancy risk and holding costs until you lease up. A ten-unit empty property can eat through reserves quickly if lease up drags longer than expected.

Just curious, have you mapped out how many months of carrying costs your $100K can realistically support before rents start flowing?