I own a 6 unit multifamily property (non owner occupied) in Tampa and I would like to open a line of credit secured by this property.

I've got $100k in cash, clearly not enough to win the auction, and I don't have time to set up a line of credit - which I probably wouldn't be able to do anyway given what I've recently borrowed on a personal level. 

New deed needs to be prepared to record the new lien holder.If you want to borrow someone elses money, there are costs involved.

Inspector doesn't care.We have scraped but the best thing would be to power wash to prepare wood correctly. 

The buyer was insistent on getting a working heater, didn't want a $5,000 credit, and there were no standard replacement because of the age and the size of the unit.

@HAILEY ERSKINE Why not pursue purchase money mortgages...no banks, no credit checks...your energy and cash outlay needs to be focused on marketing, not looking at MLS deals through an agent...or buying retail property...

Some mold issues are not a problem at all, and some might require the property to be fully gutted.Just ask for a credit to offset some of the repairs.

In addition, it is consuming over half of my line of credit which limits me from buying other projects. 

There are books on how to prepare a proposal to talk to commercial lenders.

Even credit unions.