Residential Loans vs Commercial Loans

[Kyle Neff]

Hello BP Community! I am considering multifamily properties from 3-10 units. I know anything from 2-4 units will require a residential loan and anything more than that will require commercial financing. Curious to hear opinions on:

1) Res vs Comm Loans and any caveats / gotchas I should consider?

2) Whether or not I should even be considering a Commercial MF for my 1st investment?

3) Whether I would qualify for a commercial loan considering my experience level?

4) Any other recommendations / advice.

For background -- I am looking to purchase a property between $150k-$350k and have enough for the 25%-30% down if it is required, although that would tie up a significant amount of my capital. Look forward to everyone's feedback!