1st 5 - Unit/Commercial Questions

[Joseph Duff]

Hello all - I am looking to buy a 5-unit at 225k with 2k a month aggregate rental income.  1 unit is vacant.  The area is solid and is recently has been experience a hot streak.  

My first single family rental was across the street, but my question is about financing in commercial RE, offer strategies, and overall multi-unitl management?

Financing:  Do bank have much flexibility with rates?  Current pre-approval around 5% with 25% down.  Any input here would be much appreciated

Offer Strategies: We just lost the deal due to a lack of aggressiveness; which partly falls on our realtors reluctance to place an offer w/o a pre-approval.  Does this makes sense?  

Also, the realtor seemed irritated that I reached out directly to the owner, who i met during the walkthrough to find out if the property was still available after hearing a deal fell through.  We discussed, he said it was available, I called my realtor, and he seemed irritated that i reached out to the owner direct (second) Does that make sense?

What is the best option if you really like a property after a walk-thru to place an offer, in the interest of getting it off the market, b/c you like it, but still have an exit available if something comes up down the line? 

Managing: My family does construction and would be happy to do the work ourselves, but I am wondering if the payment and anonymity offers enough value to add my current property management company in the mix on the 5-unit?  

They currently charge 7% and 1 month rent if they find a tenant.  I usually do the work, if needed, but tenants don't know i am the owner.  

Thanks in advance for all your help.  Also, anyone who is looking for two young investors in the Philadelphia/NJ area to connect with feel free to reach out.  

Cheers,

Duff