NOW, if we are to have the HOA responsible for the interior of each of the units as well, here are the eminent problems I foresee:    - owners will be even more careless and act irresponsibly for their units since they don't pay for the repairs of the interior of their units    - because many of the owners rent their units (technically they sublease), they will be even less incentivized to maintain their units    - the HOA pays for all maintenance and repairs of units and owners get the benefit of rent    - repairs/maintenance of units is not properly proportioned to their respective owners, meaning that there is no incentive to keep my property up because any repairs will come out of the pocket of all other owners    - this penalizes good owners and rewards slummy owners    - this will put the owner residents at a big disadvantage because the owners who rent their units will cause maintenance fees to increase for all owners, especially due to high turnover    --> in Summary, this is a straight example of socialist-style system (I know, my family immigrated to the US from the USSR) and it will just sink our whole Co-op.  

So I am trying to run numbers on a few larger apt. buildings and the expenses the owners have given me are obviously inflated for tax benefits.  

Your options would be a cash out refi, or a HELOC (home equity line of credit).  

Thee BB gun is on the knowledge side, assuming you can get the money.Do you know the cost of your private money, and you probably won't need the whole value, seller financing has benefits to your seller he's not aware of;The assets determination for Medicare will discount a note to it's market value, that boils down to less out of pocket in the event he needs medical care. 

You guys could do a Cash Out Refi or get a line of credit against the property.  

In my opinion, there are too many benefits and too few drawbacks for someone in a situation such as yours not to consider it. 

I know we need to setup a separate bank account from our personal finances to run our rental properties business, but not sure if we should go through a "big bank" or "small bank"/credit union.  

The rental has a mortgage and while I did find an article that spoke of not violating this clause since the property is not changing ownership, I'd like to find out some more about it before taking steps.This is the web site where I first found statements eluding to the implications of the due of sale (still researching):http://www.creonline.com/beat-the-due-on-sale-clau...This is about 3/4 of the way down the page under Enter the land trust "The trustee holds title for the benefit of the grantor.

I've got great credit and great income.  

i need more information in regards to your credit, experience and liquidity.