When shopping for lenders make sure that in the excel document that you declare your assets edit their document and specifically state that they are not allowed to run your credit without your authorization.

At the end of the day you are probably going to want to value the asset on the first option term rent. 

(Annualized Return on Risk Capital)It's more about, holding something that can pay itself from its cashflow and that is allowing me the equity to invest for more units.After a range of 15 to 25 years (depending when I bought it) I'll be able to use the entire equity acquired and leave that to my family.I'm aiming for a quick 3M in assets and will extent it to 25M by 2024.Totally doable if you get surrounded by the right people.Are you someone that can help me get that promise completed? 

We typically deal with asset based options but as @Raj Tekchandani mentioned they typically want to see the property at the 70% occupancy mark 

depends, but most likely the hard money lender will have a 1st position on the asset.

I've identified a distressed seller of a multi-family, but I can't quite scrape up the 25% to get the commercial loan.  The seller owns the building in the name of XYZ LLC, and doesn't own any other properties.I was c...

I would stay away from that asset class. 

You may want to look into more turnkey investments where you can invest $1M of equity in a more stable asset class and target a cap rate of 7%+ and simply hire someone to manage the investment for you. 

LLCs are better for asset protection.

@JD Martin  Luckily I manage my own assets.