or somehow negatively affect our financial statement in the eyes of the banks?

That's the best option for most eyes.

Some of these may be repair items, others are Capex, but it all falls under similar work, in my eyes, i.e. paint will always be a "repair" from an accounting standpoint, but there are the turnovers where I can just touch up spots, and then every 5 years or so, I need a full interior repaint to bring the color scheme back to modern aesthetics.  

I'd a) partner with a realtor who understands investments,  b) eye properties that have been sitting on the market for 60+ days. c) run the numbers and make offers on a bunch.

Perhaps she is going through something devastating, and just needs a chance to catch up.

Keep your eye on the prize of the next property!

Gabriella,In my experience you just need to have a legal entity and submit your articles of incorporation as well as obtain an EIN.

The catch here tends to be the status of the house that was purchased.  

On the other hand there is a large national bank that is out of state that has great rates, low fees but again, seems like it comes down to trust and reputation in the eyes of the agent who see the loan officer as risky to their transaction. 

Any bad acts will catch up to you sooner or later.