The two walls that I had issues with under the dry wall are brick so I'm thinking of exposing the brick since that's in style, cleaning the brick, patching up the missing mortar and painting it with a water proof white paint.

Next thing you know you’ll be tryin to poop in the woods without an environmental study. :-)

It’s an 8-unit garden style apartment building.

We have a top 10-12 resort style communities that are geared for this exact thing and then a couple dozen others depending on the style/size of home and type of amenities you want out of the community. 

With ARV at 135,000 at a maximum loan of 70%, you can borrow up to 101,250 which means, in this scenario, you could get the 85% of acquisition and 100% of rehab, i.e. total loan amount of 83,750 with an initial release at close of escrow at 63,750 which is 85% of acquisition, and, the rehab holdback of 20,000.15% of the 75,000 acquisition down is 11,250 and closing costs are likely ~3,000 so you initially need ~15,000 to closeAfter close, a prudent hard money lender will require reimbursement style draws which means you must first complete at least phase one of improvement/rehab to the property before drawing down on the rehab hold of 20,000.With only ~5,000 left over after close, you don't have much room for soft costs like utilities, nor much room to get the rehab started, nor much room for the monthly debt.

That being said, on average we see about 25-30% of reclassification to faster depreciation (eligible for 100% bonus depreciation) for garden-style multifamily properties, and 15-20% for SFRs, unless they are short term rentals, in which you own all of the furnishings and amenities, it's more like 25-40%The cost should be associated with the scope of work of the project in which multifamily or other commercial properties require significantly more work, whereas SFRs require relatively less.

Also, is a one-story home a type of property style, and can detached and attached single-family homes be styles as well?

They’re more expensive and slower but you can advertise it as more environmentally friendly (genuinely).

If you choose the perfect remodel in color and style for your buyer maybe you get the whole $12,500, maybe even 20% more, about $15k?

I have seen several posts this week in this style and it could easily confuse new investors and misrepresent LP and GP syndications as an easier or a quicker path to wealth.