Funding Suggestions for a 6-unit in TX

[Darwin Crawford]

Hi Gang,

So I'm working on a deal for myself, not for my day job, and figured I'd get some feedback from this crowd.  Keeping in line with BP posting rules, let me just go ahead and say that I am NOT soliciting anything other than advice.  

Building is a 6-unit, gross rents $3400/month, asking price $120K, seller completing some, but not all repairs.  Good, third-tier TX market with steady rental demand.  

NOI on the place after debt service projections at 8% over 15 years are $2030.44/month.

Me: Low-Mid-600's credit score, $73K reserves in cash, 2 mortgages, and 2 free-n-clear properties. 

 Working on bringing my scores up now, as I know low 700's are easier to fund.  

Approaching owner to carry is my first plan, he seems like he might play ball, but if not, how would anyone here suggest funding?  This loan ha gotten me some hard "no's" from commercial guys due to being too small.  

Private money? Don't think I'm going to qualify for a HELOC on my condo's, residential stuff is tough, and I have 1099 income from my day job, and 6 months seasoning.

Would ideally like to hold this property for 5+ years, and put some capital into it to get rents raised and force some appreciation.  

Any and all thoughts appreciated!