$25K Personal Loan to Finance & Rehab 2 SFH Properties

[Dillon M. Leonard]

Hi! Im a new wanna-be investor and have been researching financing options and properties for about 6 months now. Ive read several books on general finance and investing in real estate and Im looking to finally pull the trigger! 

I have found 2 SFH on the same block, owned by 1 owner in Downtown Louisville, KY. Problem being they are too cheap for traditional mortgages and I need capitol for rehab rolled into the loan. The purchase price of the 2 properties together is $14,000 and are in need of about $10,000 in repairs & rehab between the two. Between the two properties I stand to take in $1450 (pre tax, insurance, app. exp.) per month.

I have about $9000 in liquid assets available to invest, however I am kicking around the idea of taking out a unsecured personal or business loan for $25,000/$30,000 for property acquisition and rehab at 7.99% for a 5 year term. 

Has anyone done this to acquire properties or have any better recommendations? Thanks in advance!