That can happen, but it’s not very common, especially for someone new.

You would have something in common with the attendees.  

Common vs. pref equity? 

yeah this is very common. think of the prior listing as another appraisal. 

Prohibited transactions remain the most common source of SDIRA compliance failures.

There isn't any info about the margin of error with the survey or any real info about the data collection. 

The common paths I see are a local bank business loan or line of credit based on your income and property equity, a commercial value add loan if the building and the new space pencils with a stabilized pro forma, or a cash out refi or HELOC on other properties if you have them.

:) .Are there any strategies new investors commonly use to balance personal home upgrades with starting a rental portfolio?

For residential rentals, it’s common to see 20–35% of the building basis moved into those shorter buckets.Because you bought in 2020 and 2021, you can still do a “look-back” cost seg.

But to Chris's point, one of the common tactics right now is to sell a property for more than it's worth by using seller financing.