Private Lending for Commercial Property?

[Matthew John]

Hey guys, 

I've always focused on the residential side, but I've come across a 4 unit commercial medical/office building. 2 units are rented out to a chiropractor & dentist, 2 are vacant & 1 needs rehab. 

This is a total value add play, listed for under 300k. I'm in the early stages of due diligence, but I'm trying to figure out the best way to approach financing. 

My partner and I have done some SFH & MF residential deals, but haven't done anything on the commercial side. Our current lender won't do Commercial and I don't think it's best to go through a bank in this situation (because it's a BRRRR).

I talked to some other Commercial lenders that told me the minimum they loan is 450-500k and that a property selling for under 300k would not qualify. 

Would it be best to seek out a private lender that would lend for the purchase + rehab and then look to refinance into a bank loan after stabilizing the property?

I think this could be a tremendous value add BRRRR, but I need to figure out financing before moving forward.