6 unit short sale in brooklyn

[Rashad Ellis]

Hello all.

I'm a newbie from Brooklyn, NY. I havent gotten my feel wet yet . Thus far, my goal is 2-4 unit properties to house hack in the NY and also using the BRRR in NJ and possibly Maryland. Now I recently stumbled upon a 6 unit short sale listed for under 500k in NY. I have no experience but enough knowledge to feel comfortable with residential. Not so commercial property though. I'm asking for any advice or guidance on how to get started. How to analyze the deal, acquire financing (i think criteria for commercial lending is different from residential), and make an offer. Does it being a commercial property short sale make it any more complicated? Any referral of contractors/property mgmt, advice e how to estimate repair, ARV, etc. I have some good folks I may partner with if we can get close before it's gone. I have great credit and limited capital. Ideally, 6 units occupied will bring in more than enough bank to pay the mortgage.