Wrap up current SFHs into portfolio loan or cash out refinance?

[Derek Daun]

An apartment building I've had my eyes on for a number of years just came back on the market, and I'm starting to crunch the numbers. I don't have any experience in commercial loans, and I'm wondering what the best options to finance the down payment might be. 

I'd prefer to leverage equity in my current holdings if possible. Possible properties to tap are

• SFH worth about $330k, current mortgage 141k
• SFH worth about $270k, current mortgage 128k
• Duplex worth about 375k, current mortgage 184k

Purchase price of new property is approximately 1 million, so I need to come up with $250k-$300k.

I'd prefer not to sell any current holdings because they're located in transitioning neighborhoods that look to improve a lot in the future.

I could do cash out refinancing, but that's a long process. I'd presumably need to due the cash outs in series to keep the underwriting from freaking out, and that's a long 4 months to wait and hold up a deal.

I was wondering a portfolio lender might wrap them all up, including the new purchase, into one loan that I wouldn't need to put anything down for?

I also have about $100k in cash available, but I'd prefer not to touch most of that right now.