If it is a larger bank/mortgage broker, you should be fine. 

I was thinking about getting the property, renovating it, and then cashing out 80% of the ARV to get some of the money back.

This is NOT Business Credit.By establishing a separate corporate credit profile on the EIN Number (separate from the business owner's SSN/FICO), investors can access substantial business credit lines, capital for property acquisitions, and renovation funds without personally guaranteeing the debt.This approach creates a powerful financial firewall between personal and business assets while potentially generating a significantly larger (ROI) through reduced interest rates, increased borrowing capacity, and the ability to scale investments more rapidly.The education gap surrounding EIN corporate credit means savvy investors who understand and implement this strategy can gain a significant competitive advantage.

@Jay Fayz for SFR (1-4 family) Classifications are mostly opinion-based.Not aware of anyone tracking eviction rates, except Evictions Lab nonprofit that doesn't like landlords.Here's some info that might helpt:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Time is money, and delaying a renovation often means lost rental income.

The lessons you learned the hard way in 2008 will be invaluable now, and it’s great that you’re aiming to stay small-scale and within your comfort zone of Sacramento, which gives you an advantage of knowledge in that market.Given your experience, I'd say start by focusing on three key areas to build confidence and minimize risks:Budget Control: Over-renovating was one of the big mistakes you mentioned.

We can buy the house for maybe 125k and he estimates 120k in renovations.

For C to B-Larger developments announced nearby-Increased activity in new construction-Building of commercial retail in or near the neighborhood. 

And somewhat unfavorable terms.I have a deal in hand that I can swing cash but will not leave enough for the renovations.

Between working around the renovation materials to the 35 minute commute to the first two units I’m having serious second thoughts about this.