Small commercial multi-family general questions

[Allen L.]

Hi guys,

I have a few general questions about investing in small commercial real estate properties:

Estimating expenses:

- The property is located in uptown NY and has four 1/1 units and one 2/1 unit and was recently rehabbed throughout. When estimating capex and maintenance costs, what are some ballpark figures? In my head the number comes out to $5000 a year, but I'm not sure if that's accurate.

Obtaining loans:

- I own and manage 2 SFH and manage another SFH for my fiancee but I have no past experience owning multi-families. We rent the SFH to college students but we pays all utilities. I want to reach out to the local bank in the area to see if they'd provide me with a commercial loan on the property, but I heard it's tough to get a loan if I don't have experience managing multi-unit properties. Can someone confirm if this is true? Can I spin my experience managing SFH as student rentals as related experience to owning a Multi?

- Would banks generally allow borrowers to put the commercial mortgage under a brand new LLC (no profit history)?

Thank you!

Allen