Residential or Commercial Cash Out Refinance?

[Matt Speer]

I have two properties with a partner. I'm looking for a cash out refi to put our money to work again. However, I've been told that to get a 75% LTV, I couldn't refi the properties under our LLC.

With just two properties, is the risk of personal liability less and than the more stringent terms of a potential commercial refi? Also, what type of terms could I expect through a commercial loan? 

Context of the properties -- 

Property #1 CFs approximately $1,200/mo (no loan)

Property #2 CFs approximately $400/mo (no loan)

Any advice would be much appreciated!