I’ve found a commercial lender that will give me a line of credit on 80% of the combined equity of the properties. 

They had bad credit and couldn’t just get a loan to pay off their taxes.

I have talked to a couple of local credit unions and either I got connected with the wrong person or they are not very generous on what they are willing to provide as each of them were not quoting very favorable terms.

I think most lines of credit won't have an amortization schedule, because they are meant for frequent smaller purchases, I have no clue about the rate though.

. - Self managing a couple units is a great way to learn the business.Property Management Software - check out something like Cozy.co - it helps you list/market your units for rent, lets prospective tenants apply online and does background & credit checks, then once you place a tenant they can pay online along with submit maintenance requests.

I will certainly try to refinance it when it is completed, perhaps a portfolio credit union would be open to refinancing, if not, then I'd simply sell it.One caveat however, she owns the property free and clear.

Let's say we get the loan in only his name because he has a better credit score and well documented income.

Generally the same banks, credit unions, savings & loans, etc will all make commercial loans.

It didn’t matter that we have good  credit, income, and clean history otherwise...  

Do you have the money/credit for a down payment?