So, in the short term products: the 6-12-18 month bridge loans are interest only loans that have a balloon payment at maturity. 

When interest rates were lower there were more deals to be had and cashflow was solid with even a moderate down payment.

Also discuss with the contractor the time expected for the project if its small, mid or large and if it needs permits and how long would it take for permitting and all, also payment terms, make sure you go with payment terms that are fair to you and the contractor (so many terms but most common is monthly based on completed work with an upfront for materials) and ALWAYS keep the last payment until project is closed (retainage) and you do your walkthrough and if there's any issues you write them down and provide the contractor with (punch list to release the retainer once they're corrected or fixed). read about how to deal with contractors and always ask for references but it really depends on how big the job is, personally I wouldn't spend too much time doing due diligence on small jobs such as door latches or shelving rather on additions, layout change and other scopes.Good luck!

Hoping the BP community might be able to come up with some solutions with me- ideally we just aren't losing money on the thing, which our payments are $1,200 a month.  

For example, on top of down payment & credit score, you also need to factor in the actual DSCR percentage and if there is a prepayment penalty or not.

Downstairs 2/1bth $600/mUpstairs 2/1bth $500/mProperty needs work and am asking $120kWhat down payment would you suggest?

The difference in his payment was $14.58...Your main focus should be the closing costs.

if your mortgage payment net of rent is equal to or less than what it would be renting, it's a better choice.say you could A. rent for $2000, or B. have a $3000 mortgage and collect $1200 in rent. 

You may need an experience partner, capital or equity partner(unless you have the down payment), a high level contractor prepared for the various building types. rent rolls, proforma for the buildings.

If we move away from a commission payment system, it puts a serious crimp on the agent / client relationship.