Financing Bulk Condo Purchase

[Joseph Duenas]

I'm looking at purchasing 10 condos for $40K each or $400K for all 10 (single seller). The condos need quite a bit of work (approximately $12K each). My total investment will be about $520K. After repair value will be about $79K each or $790K for all the condos. I have a HELOC for about $150K that I can use to renovate the place, and $150K in credit cards.

If this opportunity were before you, how would you finance the acquisition ($420K), and then exit the deal. I'm thinking to either renovate and sell each unit, or possibly even refinance them all and rent them. Can I get one loan for all ten units? Or will they require 10 individual loans , one for each unit. Thank you in advance.