Of course life insurance has fees, but those fees don't keep the model from working.

Then layer on ordinary transactional fees such as brokerage and transfer taxes and very quickly 12-15% of the appraised value is wiped away.

HELOCs are great for short-term deployment and optionality, but it might be better with a plan to clean it up later through a refi, paydown, or capital recycle once the next deal stabilizes.Using a DSCR loan under an LLC for the next acquisition makes sense and is a good way to avoid stacking more traditional debt under your personal profile.Overall, it’s a common and reasonable route given your constraints.

.• Using an out-of-state LLC as trustee is common, but banks, insurers, and some counties will still require Florida qualification somewhere in the stack.• If you plan to self-manage or control leasing decisions, a Florida-registered management entity (even a simple LLC) often keeps things cleaner and reduces audit risk.• Most investors underestimate how quickly sales tax, DBPR, and local licensing issues come into play, especially with short-term or mixed-use rentals.Land trusts work well for title holding + privacy, but they don’t replace proper entity registration or compliance.

Solid underwriting and a compelling business plan are key.Reach out if you want to talk capital stack or structuring options.Drago

I suspect that's why you are specifically asking about private lenders.I am not a fan of using debt to fund the entire capital stack and all ongoing operations.

You are much better off saving your own money, securing better rates/fees to minimize the cost.. 

By the time that mismatch shows up, the capital stack and expectations are already anchored to a number that’s hard to walk back.It’s another reason why early feasibility needs to look past what zoning technically allows and focus on what actually works given site constraints, approvals, and end-user demand.

I’ve been spending more time underwriting stabilized commercial retail and thinking through different capital stack structures — especially where senior debt, seller participation, and a small equity tranche coexist.Curious how active syndicators here think about aligning early-stage capital with assets that are already cash flowing and highly occupied, particularly when the goal is clean execution rather than heavy value-add.Do you generally prefer simplicity (straight equity) or more structured approaches (prefs, hybrid positions) in those situations?

The answer is experience.The biggest red flag in your scenario was that you don't have money in reserves and you're trying to bring in a gap for the reserves.If this is a good deal, you're better off wholesaling it or assigning it to somebody for a fee so that you can build up some reserves.