Financing newly cash purchased property

[David M.]

We sold an investment property and put $ in 1031.  We have a deal part 1031, part cash, for two triplexes.  Would a bank finance one triplex 30-40% with $2300 rent income so we could finance renovations to the other 3 apartments in order to get higher rents ?  Neither property will have any mortgage since we are paying cash essentially.  One llc will initially own both properties but we will split the properties into two separate llcs later, would we need to wait to separate properties until after loan repaid or we could possibly get mortgage on just one property.  40% of one property is enough for us to upgrade remaining empty units