The property is undergoing a full remodel and we plan to eventually rent it out and possibly build additional units on the lot.Here’s the issue.One of the beneficiaries has lived on the property his entire adult life.

I’m always looking to build solid relationships with agents who value collaboration.If you ever have listings you’d like additional exposure on, I’d be happy to assist with marketing support at no cost.

Thanks for that, I should have added additional info...

My goal is to build equity over the next 10-15 years in an effort to create some additional cash flow for my wife and I as we approach retirement.

The property serves the energy workforce market in the area.Property overview• 18 furnished units + manager residence• Built in 2017• Located in Pecos, TX• Workforce housing model (weekly/monthly rentals)• Stabilized operationsFinancials• Purchase price: $800,000• Recent third-party appraisal: $1,200,000• Trailing normalized NOI: ~$100,000• Annual revenue: ~$268,000So from a leverage standpoint, the deal is actually fairly conservative if viewed against value.Loan requestWe’ve been seeking:• Senior bridge loan: ~$520,000• 65% LTV of purchase price• Interest-only• 12–24 month term• Exit: refinance into long-term DSCR loan once stabilized furtherSeller structureSeller is flexible and willing to carry the remainder.Proposed structure:• Senior loan: $520K• Seller carry: $280K fully subordinatedSeller note terms could be:• principal-only monthly payment ($1,200–$1,500)• balloon at refinanceSo the deal itself works operationally.Where things get difficultWhat I’ve encountered talking to lenders:1️⃣ Most bridge lenders want borrower cash in the dealEven with seller carry, they want "skin in the game."2️⃣ Many lenders underwrite strictly off purchase price, not appraised value.3️⃣ Origination fees are extremely highTypical quotes I've received:• 12–14% interest• 5–6 points origination• 12-month term4️⃣ Some lenders require reserves ($100K+), which defeats the purpose of the structure.5️⃣ DSCR lenders generally say:“Come back after seasoning or after you own the asset.”The real gapThe deal works if the capital stack is:Senior loan: $520KSeller carry: $280KBut lenders are effectively asking for an additional $50K–$100K borrower cash injection, which is the piece I’m trying to solve.So my question to experienced investors:Where do people typically source that “gap” capital in deals like this?

That comes with additional fees to do so. 

We are currently funding two active flips in Indiana and are looking to expand with one or two additional local operating partners.We are not looking for wholesalers seeking assignment fees.

Hi AlyssaYes, I have experience with splitting a property into additional units. 

Any additional input is sincerely appreciated.

Are there new roofs, siding, landscaping, additions?