Loans are typically short-term which is a good thing because interest rates are higher than rates for owner occupant, traditional loans.

The limit you are asking about is for personal mortgage loans in your name (traditional mortgages). 

I don't think a person who's behind in payments or who needs to sell a house fast or who wants to buy a house without a bank is thinking about "investments" in the traditional sense.

There were other hoops I had to jump through that I considered "non-traditional" but basically had everything done up front outside of an appraisal.

the building has not been maintained well at all so the trim, walls, all that are ready to be replaced.I can't speak to the insulation part, but I recently framed over a masonry wall for aesthetics ... still used 2x4s, only oriented them so the wider part (3.5") ran parallel to the wall and the wall only came in 1.5"+ drywall thickness ... the trick for electrical is that they sell "narrow" outlet boxes designed for this applications rather than the standard depth ones designed for framing the traditional way.

Any suggestions on an investment friendly traditional  lender in the Cincinnati area  thanks 

Also, would a traditional lender finance this deal, keeping in mind that it needs $30k of work?  

Is a solo 401k something I need to open up with say an eTrade or Scott trade for example or do I go through a traditional bank like Chase or Wells Fargo?

Is there a limit to the number of refinanced properties you can own through traditional lending?  

@Jeff AdemaA self-directed IRA is held by a specialty custodian with the paperwork and business model to document non-traditional assets such as private promissory notes or mortgages.You could not setup an IRA and lend to yourself for your project however.