Please advise: commercial loan or residential loan

[Triumf Ian]

I am purchasing a 8 individual titles condos in the same building (only 8 in total, basically buy the whole building), the property is in Canada BC, should I get a commercial loan or residential loan? If I buy them as a package loan, can I sell them individually later on? To buy them as a residential loan, it’s difficult as there will be too many mortgages and the bank may not approve. Please advise and refer to a best bank or credit union or a mortgage broker which/who can provide such loan.

In addition, the current strata fee for each unit is around $400, can I remove the strata company and manage them by myself?

Thanks in advance.

Best regards, AZ

[Chris Davidson]

@Triumf Ian I am not positive about Canada, but if you own the whole building you should be able to manage yourself but would have to see what contracts are in place. 

As far as lending, I would go with whatever is the best option. Like you said 8 residential at the same time might be hard to do. So I would just try and find a few lenders in your area willing to work with you and get it done and pick the best.