@Drew Leonard just tell him "that's OK your tax returns will give me all the info I need".

We got good terms from a hard money lender, 10% for 18 months. they also provided a line of credit that we drew down on to do repairs.

That's what originally drew my attention to a BRRRR type deal, and ideally take out an FHA 203k type loan to cover the renovation costs. 

Finally    made other arrangements , and cashed some emergency funds ,  drew funds from HELOC I had set up  on previous property, and cash I had saved and allocated for the rehab  and paid cash for it..  

Drew

@Drew Leonard I don't see why you couldn't stay the commercial route, especially if these props have been rezoned, or reclassified by the city or county.

The value of the neighborhood and surrounding neighborhoods drew me to this deal.

@all: Seems like my topic drew some attention :) ...

The absolute BEST advice you can receive when asking this question comes from an attorney barred in the state where you are doing business and who specifically practices real estate law (in Colorado I have @Drew Fein on retainer, for example...and I'm a lawyer with almost ten years of practice!). 

@Drew AchterI pay $508 per year for the 20 unit plan, that's with the 10% discount of paying yearly.