Borrowing against unleveraged rental properties

[Dale Cooper]

I work for an LP that owns (paid cash) and operates ten properties in the Albany area. Properties are all between 2-4 units and tenant-occupied. The property manager is great at operations in that expenses are always low and revenue is always high, but he's not good at keeping records or any administrative work.

The LP members want to take out as much debt as possible on the properties while interest rates remain low, preferably in a 30 year fixed. The plan is to use the borrowed money to service unrelated debts, but the real goal is to borrow as much as possible as soon as possible. Conditions on how the money is spent could be acceptable.

Any advice on how to make this happen? I'm looking into local banks and portfolio lenders, but given the poor documentation by the property manager, it will be difficult if not impossible to satisfy conservative lenders.

If I come off as uneducated here, that is because I am. New job, sink or swim. Don't be afraid to dumb down your answers, and if you see an obvious solution here that I missed, its not because I considered and disregarded it. Thanks for any guidance you can provide.