Patrick, I am by no means an expert but my first thought would be to confirm with county property appraiser what the PIN (parcel identification numbers) is described as and if it can be changed or separatedAlso, the tittle company who will provide insurance may be able to weigh in too.Bank or credit union may help with valuation question.

Should i look to investors/ loan/ line of credit and borrow money or wait like a year and save up?

If you're even somewhat active in the purchasing/selling space, I highly recommend you obtain your Real Estate license for the following reasons:- CE credit often overlaps and counts toward both licenses.

That’s more about screening and your rental criteria (credit score etc) than about the fee. 

You have your loan, credit, finance information.You can use your credit card to pay for repairs.

I don't have great credit and it will be my first home purchase.

I had luck with local banks and credit unions.

Can anyone tell me how this might effect my personal credit.

Are you doing full background and credit checks on new tenants?

Some condos didn't require any rehab and the existing, cooperating tenants were more than happy to start paying us when we started fixing their condo up.