Owner Financing and how to afford renovations?

[Colten Thiel]

OK, so here it is. I recently came across a 5 unit property for sale, a tri-plex and duplex being sold together on the same lot. 1st question, in terms of conventional financing could I consider the buildings seperate and get a blanket mortgage for two residental buildings? Or since the sale includes 5 units regardless if the buildings arent connected, will it have to be a commercial loan? 2nd question, the owner is willing to do a seller finance (great news!) but I don't know how to finance the remodels needed, because each unit will be remodeled as tenants move out and not all at once (All the units are currently being rented aka instant return). Would it be worth it to find a HML, kick all tenants out at once, remodel everything, refinance with a bank and then re-rent? Or how can I finance remodels one unit at a time? (Sorry I know thats like 4 questions in one) Any insight would be greatly apprciated!