So when i talked to the attorney about converting these into a LLC, I was told that they would no longer be guaranteed like a VA loan anymore, because the llc is not the veteran, so most banks will enforce them to be payed off in full afterwards.

Credit union is the best source of financing if you can secure it.She's asking you for a business plan basicly: monthly projection of your payments received from rent and your payments on bills like taxes, insurances, property manager etc.Let's say, you want to buy a house for $70K, update it for $30K and you think your rent will be $2K/month.Then you make a payment plan for each month what is going to be paid: January+July - taxes $1020 each; March - insurance $870, every month water/sewer $50 (if you don't plan on Tenants to pay)When you make it an Excel table, there will be each month left cash flow, which you then add with mortgage payments.That's one of the main projected financials: your cash flow.Income projected as an income&loss statement: $24,000 income from rent                   $2040 - taxes                   $870 - insurance                   $600 - water/sewer                    $2400 - PM                     $4,000 - interest on mortgage- depreciation - maintenance- other expensesWhen you talk to the bank,  they should see positive numbers, not just that you know you'll pay.

If I were in your shoes, I would speak to some local banks and see if you could line up some type of sweet heart financing that you could offer with the deals. 

Shop in small local banks.

Looking for a commercial lender for a deal in Fall River, MA. I have a sale leaseback deal with a single tenant that will sign a ten year lease. The numbers net out to an 11+ Cap Rate. Industrial property with several...

The bank has suggested I borrow the full 80% of the $150,000.

There has been so much development  in the past that it has really messed up the drainage in the Houston area, it doesn’t take a lot of rain to get the loacal bayous and water ways to break over their bank.

You are the owner of the property and the other party acts as a bank.

Besides setting aside $400/unit, how much cash will a bank want me to have on hand or available? 

@Daniel Brown Yes, some banks will HELOC based on your tax assessment after the house has been “seasoned” lived in for 1+ year.While this would save you the $500 appraisal fee, it likely won’t benefit you in this case.You want a formal walkthrough / appraisal.