I’m evaluating a bridge acquisition + repositioning deal for a small commercial asset in a high-traffic tourism corridor. Total project cost: ~$1.5M–$1.6M Equity: ~$500K (~30%+) Loan: ~$1.2M–$1.275M Renovation + lease-up (3 tenants, 1 pre-committed anchor) Stabilized DSCR: ~1.35–1.6 Clear SBA 504 refinance exit within 12–24 months I’m exploring non-recourse or limited recourse structures. Key question: How are lenders currently structuring deals like this without full personal guarantees?