7 Unit in North Jersey Questions about Loans

[Mateusz Prawdzik]

Hey Guys, I will probably be bombarding these forums with a million of my questions as I am looking to start getting some buy and hold properties from a couple that is wanting to start deloading their portfolio as one of them passed away. Someone's lose is another person's gain I guess.... With that being said...

This 7 unit that I am potentially getting is 2 buildings..  but the tax record says "5-9 Main St" does that mean I could get 1 SINGLE loan on the property or do I have to get 2?

Next question, Commercial lenders? What are typical rates and time frames for the loans? Should I stick with someone local or anyone that has experience will do?

3. What are some things that I will require to get the loan? I have money already lined up if the deal goes through, but this isn't my money it would be another investors that he would be getting a portion of the rent roll every month for. 

This question is more for the property management side....

1.Out of the 7 units, 2 are getting evicted and will probably be delivered vacant but the units need work to be re-rented... With that being said, if I get a property manager (which I am 100%) is it my responsibility to fix and re-rent the units or the PM's? 

2. A follow up question to that one is... Screening... How do I make sure that the PM that I choose is doing the right type of screening and what kind of requirements do you guys recommend having? 

Sorry for the crazy amount of questions... but I am mainly a rehabber/developer so my expertise lies in those fields... Like when I went to check out these units, I automatically knew what it would cost and what I needed to do to fix them. I just don't know how to deal with tenants and doing the actual HOLDING part. I need to find a good PM because I have heard that most of them are ABSOLUTELY TERRIBLE and I can't afford to devote anytime to BS when I am managing 9 flips ... Just cant

In turn, if anyone has any questions about flipping or rehabbing and construction, please let me know. I would love to help out 

Thanks again