Lets assume I secure private or hard money for the reno.

Affordable housing is hard to find in LA which is why people look to Riverside, Palmdale, etc. 

Multifamily apartments are hard to come by unless you are developing. 

The numbers seem solid, even if I sold everything and didn't develop there is 60k gross, enough to pay hard money and move on.

The hard part is finding a deal where I can attempt to do 1031s on smaller units to move up?

@Wendy CarpenterIt's hard to give specifics without knowing the specifics but in general:  It is advisable to ask them and be up front about the things you need to know. 

@Sam WishIt's going to be hard for many here to provide meaningful feedback as you seem to be framing the issue appropriately. 

I just graduated from school last year so I don’t have hard earned credit.

in other words, if the access freely awkward, and there isn’t enough natural light, and it’s right up again st all the neighbors, it would be hard to sell it.

I have an opportunity to provide closing cost financing/down payment on a deal and not sure what criteria to add to protect myself as much as possible. 80% financing from hard money lender and rest has to come buyer.