Multi family deal analysis (5 unit)

[Kyle Robichau]

This property off market and in the Houston, TX area and is technically a 5 plex. Triplex in the front and duplex in the back. They are separate. The NOI is 31,000 with expenses around 15,000. Listed at 215,000 with ARV around 315,000. The rent brings in about 3k a month. The place is in overall good shape, but could use some updates here and there.

My main question is would a lender consider this a commercial loan, or two residential properties? I’m wanting to do private money for acquisition, use Brrrr and refi into a 30 year fixed rate. I am not sure if the strategy is useful on commercial loans. 

Any insight on commercial loans refinance process and rates rates would be very helpful. I am most interested in the LTV they give and the time line.

Thanks!