How to fund repairs on an 8 unit deal

[Dylan B.]

Hello fellow BP members! 

A partner and I are working on purchasing an off market deal from a soon to be retired landlord for 8 single family homes.  The numbers check out and this will be a great deal however we are stumped on figuring how to pay for some of the repairs that probably need to be addressed.  We have the money for down payment and closing however we know we should have a reserve fund for some of the repairs that need to be addressed right away and in the future.  

We have thought about getting a line of credit through the bank, pulling in another partner to help out with cash, and also private money lenders.  We are just looking for a little advice on a way forward with this deal.  

Much appreciated!