My goal is to wholesale some properties single and multifamily to build some capital while fixing my personal credit and building my business credit.

Spend more than half of your total working hours in an RE business in which you materially participate.2.

Business / Investment property.  

And for two valid reasons: they don't know if Don is a trustworthy borrower (which he is not), and they could get a lot better profit (for the bank) from a brand new loan.

Do you want to own your own real estate like an apartment or retail center and create a side business?

-To your success, Zach Lemaster, CEO Rent To Retirement---https://www.biggerpockets.com/business/page/3497https://www.biggerpockets.com/users/ZacharyCole/referenceshttps://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-reviewhttps://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-dealhttps://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-flhttps://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?

-To your success, Zach Lemaster, CEO Rent To Retirement---https://www.biggerpockets.com/business/page/3497https://www.biggerpockets.com/users/ZacharyCole/referenceshttps://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-reviewhttps://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirementhttps://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-dealhttps://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-flhttps://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?

This will allow you to put the loan into the entity or business name of your choosing.

No, it's not a normal business practice and does not pass the smell test.From driving? 

The IRS doesn't trust you to report accurate information, so the 1099 from the property manager is checked against your filing.Any company that does more than $600 in business with you should issue a 1099.