I'm reading an application that sounds as if my personal assets would back the loan.

Just to be a good person and have good karma. 

Personally, I negotiate for better price/seller credits + put more money down to min 1:1 DSCR and keep it gucci. 

Expecting total Reno costs to approach $150K.  

Furnishings, such as the $35,000 you spent on furnishings, would generally be considered personal property rather than real property and would not be included in the cost of the property.In a cost segregation study, the goal is to identify and classify the various components of a property as either real property (land and buildings) or personal property (furnishings, equipment, etc.).

In the worst case, I've seen contracts where LPs are made to personally guarantee the loan.

(It does not have to be empty of personal property).  

The reviews are tied to the agent because he or she is the person that provided the service.

Last time I approached lenders I was approved for a loan with an interest rate of 9.5%, but that was when I was trying to purchase through an LLC so it was a commercial loan.

@Kristi KandelI was just letting this person know the reality of their situation.