Assuming your credit is good, you have the required down payment, you income qualify, etc, for an investment property the rates should be in the low-to-mid 5's for a 30 year fixed for a 1-4 unit residential property. 

HOME Equity Line of Credit, if it is not your home you cannot get a HELOC. 

The down payment and rehab budget would come out of my home equity line of credit and I would get a new mortgage on the rest.My father will do all the rehab and manage the property, physically.

You might be able to find a bank that will go as high as 90%, but you need to have a really stellar credit score and DTI ratio. 

Based on the proforma financials, the 50 unit shows a vacancy and credit loss projection of 10% and the 80 unit shows a vacancy and credit loss projection of 8% - so 90% occupancy on 50 unit and 92% occupancy on 80 unit if I'm reading correctly.

Assume that we both make good yearly wages and have good credit scores (700 plus)

Credit score should be around 740+, (or maybe better? 

Can I request credit agencies to remove it from my report if I do so? 

The price range does vary on neighborhoods.

I think I have minimized my risk by purchasing it out right and then testing the market for what the property will rent for to further prove my numbers for purchasing additional houses in the area.Once it is rented I am going to work on either refinancing or getting a line of credit for the purchase of the next house.Hope this helps any new investors who commented on my thread.