seeking advice on a deal

[Polly Yen]

HI Bigger Pocket Folks,

I have a deal I am looking at and can use some advice. I have an opportunity to buy an 8 unit rental property. However, it is currently under-rented by about 40% and due to this, it does not pass conventional loan DSCR requirements (1.25). My plan is to take out a private loan, get the rents up and refi to a conventional loan within a year.

I am confident in my rent estimates and the location of the property.  My concern is the possible hiccups in the re-fi process.

Experts what are your experiences?

Thank you,