Since our background for 35+ has been new construction production builders, we prefer the term redevelopment versus rehab or gut rehab.

Basically that was the only lock for the apartment door and it broke due to old age and poor quality so it was no one's fault.

I was born poor, I remember when food stamps were little coupons, I have eaten government cheese. 

Follow manufacturers directions to a T and you should have a quality finished product. 

After a while I became very dissatisfied with the knowledge that I'd lead a relatively unexciting life, only living off half my pay, only to be rich once I already have one foot into the grave.This was about the time that I read the Rich Dad, Poor Dad book and it really changed the way I looked at investing.

The Premier product was far superior, both in finish details and how it arrived. 

If things go well, could be harmless, but if things go poorly one of you will get the short end of the deal (hint, it'll be you).Are you willing to sacrifice profit and ROI for family?

Other than that, it is the same product you would have from a mortgage broker or bank.There is one loan product for any SFH or multi-family, 1-4, purchase. 5+ units moves into a different product; commercial, I think.Pretty sure you cannot combine two loans for a property, but your idea of using the second for upgrades or rehab might work.

The only reason some people purchase Dun and Bradstreet's Credit Builder product is to allow them to add trade references to their credit profile.  

But there is another issue here... not all "scores" are created equal... you need to check the score that banks are actually using, for the product you are trying to get.