Advice on investing in a medium multiunit (7 units)

[Brianna Jackson]

I've been watching a property from a distance (I am not currently in the area) and it has kept my attention. This is looking like a great deal if I could get it for an ideal price (it has been on the market for over 2 mos and I just received word that the condition is considered "poor" as there haven't been any upgrades in a decade and it's looking to be in a B-/C area...so I'm hoping to knock the price down significantly...any advice on this would be appreciated as well!). Can't use my va loan to house hack so now I am moving into the commercial loan play area. Any suggestions on the best way to navigate and finance this deal? I still wouldn't mind house hacking it....but how does that work when it's a commercial size property? Are there any loans where I could claim primary residence (and possibly receive fixer upper funding like a 203k) of a commercial sized property? Any advice would be appreciated :) 

[Juan Vargas]

@Brianna Jackson Since this is a 7 unit property, this is considered a commercial property and you won't be able to get a 203k loan on it. Your best bet is to get a bank loan, most likely recourse. As far you living on the property while you rehab it, you'd have to get with your bank on that. I haven't heard of such products for that though.