Here is the deal. The seller will be providing a good deal on a property. About $50k below market value. For easy math let's say it's market value is $150k and he is selling it for $100k. I would like to maximize this equity sooner than later and minimize the out of pocket expenses. Option 1: I can purchase the property at $100k and put down the 20%. After, I believe it's a 6 month wait, I can cash out refi. Since it's an investment property I can only cash out 70% of the equity and have to pay closing twice, once to purchase and once to refi. In the end I would have $25k minus closing costs and taxes. I believe you have to pay taxes on this correct? Option 2: I can do the same as option 1 but instead pull out a HELOC. Would I have to wait 6 months for this? I would still only be able to pull a Loc of about 75% correct? This would eliminate most closing costs, be quicker(don't believe I have to wait 6 months) and I won't have to pay taxes but will have funds available as needed. Option 3: Looking for a non traditional mortgage method. Is there a method of private funding available that I could use long term (30 years) and significantly reduce the closing costs banks charge today? If not is there something I could do with private money to purchase and refinance out with a traditional lender? I'm not in a situation where timing and a quick close is needed. Thanks in advance Dave