One lesson I have learned over the years is that some types of debt are not bad, as long as you are earning a reasonable amount of cash flow.

@Anthony MikolichThere are several banks that do HELOCs on Investment Properties.The one that I know is East West Bank: East West BankI understand there are a lot of suggestions to do a refi, but there are two problems with that:1) That's not what the OP asked and 2) There are REAL reasons why to use a HELOC... which is why it's a Loan Product that is available.HELOCs give you another choice to use money temporarily and is better than HARD Money.I will wind up getting huge discounts on properties with an All Cash Offer.The discount I get can be upwards of $100k on a $1.5 Million property.BELIEVE ME.... it is worth it.

I've only ever had my handyman redo one bathroom and it was in dire need - it was just bad.

I'm not planning on buying a forclosure or something in bad shape. 

I am very green when it comes to multifamilies, and I was hoping that some one could look in to there hearts, and go over the numbers on this deal just to make sure I am not making a bad purchase.

You can always fire a bad property manager but you can't move a property in a bad area.

If I have to purchase something out of town I will no doubt hire a manager.Question- after I make my investment would it be a potentially bad or good move to hire a prop manager being that this is my first property?

Also, don’t let one situation leave a bad taste in your mouth.

You won't have to, but budgeting for it will keep you out of trouble when something does go bad (and it will).  

There is nothing bad on the report, but it is lacking any type of employment history.