8 plex on 2 tax lots. Options?

[Jay A.]

I found an 8 plex with a decent cash flow. It is actually 2, 4 plex buildings on separate tax lots (right next to each other). I have 3 live-in rehabs under my belt and 2 rentals but figured it was time to go to the next level. I will be purchasing my next property with a trusted partner.

My question is, should we buy it as an 8 plex? Or purchase each 4 plex individually? The terms and flexibility on a 4 plex are much more appealing than a commercial loan. Plus, we both have high paying W2 jobs and great credit and financing isn’t a problem.

What are the pros and cons of splitting and purchasing individually?

What are pros and cons of purchasing as an 8 plex?