Commercial loan for multi-family investment?
Hi all, new member here and first time multi-family investor looking for first property. I've got a quick question for the experienced folks. I'm looking for a 4-10 unit property to dwell and rent in the $1-3M range in my local area of San Diego. We're willing to put down a sizeable down payment (~50%). But will need a loan on the rest. Only problem is we don't currently have an income. Would we be eligible for a commercial loan based on the current rental income of the property?
Thank you in advance!