The practical issue comes to who the bank can recover from after things go bad and personal guarantees help the bank to solve that.So, for example, you can open an LLC or whatever business vehicle, but practically, banks aren't going to loan you unlimited money since a fresh company probably has no business history/assets.

I'm not looking for the best area in town, but I'm also against investing in a bad area with lots of crimes.

Originally posted by @Shmuel Waldman:Although I have no magic crystal ball - On a gut jobDepending on how extensive you are guttingWindows/Electric/HVAC/Plumbing $45 - $65 per SF is a fair GuesstimateThank you, it would be a basic flip gut job property is in bad cosmetic shape and it would be flipped..Thanks for your help!

I own several properties in Texas where I get a 3% discount for paying by October 31st.  1% per month is not a bad return on investment

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.