I have one room I need taped/mudded and another one on the way. 

If it is in a C neighborhood there is a much higher chance of break ins and it attracts undesirables. 

Parking lot causes lots of mud with rain making a mess.

BUT we had a mud room that abutted the kitchen so this is what we did.

Too many investors get stuck in the mud and never pull the trigger.

The property is in an undesirable area that is going downhill quick.

Your goal should be to get your client the property at a price acceptable to them, even if that means slogging through the muck and mud of the real estate world.

If I find a property with excellent cash flow potential, will I have a good chance of securing a loan(albeit a higher interest rate) even though I have undesirable debt-to-income ratio? 

All the "ifs" make short sales generally undesirable.

Below are the primary causes of commercial MF default:Under-capitalized properties (no capital to maintain property and revenue declines)Untimely balloon payments (have to refinance when credit is tight and prices are low)Properties in undesirable locationsPoor managementFraudMitigants:Good locationsAdd valueCash flowPrudent debtReserves