This works differently most places from here, because we have forced heirship.Another concern is what will be the tax consequences of the sale of your condo? 

I'm hoping to force enough equity to cover all of the closing and processing fees, and hopefully as much of the rehab as possible. 

If asbestos is present and poses a risk, a tenant could, among other things, legally force the landlord to choose between removing the asbestos or losing rent. 

However, I have learned the hard way that it's far easier to follow your dreams and have a positive impact on the world when your net worth is on the plus side.Mike

1) Be forced to start investing in small deals that will earn me negligible monthly cashflow to gain "experience" in the eyes of commercial lenders2) Continue to sack away capital year after year until I have cash reserves that will allow me to obtain a commercial loanI have heard some people say that they found co-signers on the loan who have high net worth but the last thing I want to do is approach family or friends with this when so many of them are also young professionals with little net worth or are highly leveraged and busy business owners. 

It doesn't impact the deliverable to them in any way.  

However if your market sells at a 7 cap for stabilized properties of like class and type, that difference represents your forced appreciation.Ex. 

Mine didn’t, I had to force him down there to take a photo of the new heating system. 

I just think you do not account for the asset depreciation or the market forces.  

The mortgage will be included as part of your debt so it could negatively impact you moving forward with other financing.