Line of Credit for 4-plex with Commercial Loan

[Evan Tuuk]

I recently purchased two duplexes with my dad (on the same property and under one loan) and we purchased with an LLC and commercial financing. We've only had it two months, but I'm looking at my goals for 2022 and I want to steadily build my portfolio through the next few years. We put 20% down on the loan so we have that in equity for sure, and we re-leased the empty unit at $750/month ($75 increase from the previous with only $200 to get it ready!).

I'm curious about the option of using a line of credit to fund more properties/rehabs in 2022. One unit is also way below market ($475/month) and will need some rehab when this tenant moves out so maybe it could be useful for that? How does a LOC work if the properties are under a commercial loan, but technically not a commercial property? Does it have to be a commercial line of credit? Where can I go to learn more? I know nothing about them or the process or requirements for getting them and I don't know how the commercial loan changes anything.

Thanks for any help!