Commercial Financing, repair funding vs down payment

[Katie Criddle]

Hey BP world!  This is my First post here!! I'm new to the community of investors, but not new to real estate.  

Current project I'm working on: purchase of a 4-unit, multi-building property.  Conventional won't touch it, but I already have contacts with some local and private banks that can fund it.  Open to new contacts if they have what I need, but that's not why I'm posting.

Specifically, I'd like to leave as little in this deal as possible (BRRRR), hopefully less than $50K. But it needs a larger down because of the commercial loan, and about 96K in repairs. None of this scares me, just trying to find some lending strategy:

Deal (simple math):

Purchase Price:              800,000

Lender financing: 600,000 (75% LTV)

Seller Note:                    120,000

Buyer Down:                    80,000

Buyer Repairs:                 96,000

ARV (5.5% cap): 1,100,000

Is there any way I can include the 96,000 as part of the loan balance or count it as the down payment, effectively financing 75% of the repair costs and increasing the loan amount.  I'll be correcting a few things on the property (septic/sewer, subdivision), so that I can refinance into conventional loans within a year or two.

Very familiar with overall loan qual etc., just not super fresh on the cash out/repair budget under a commercial loan.  Am I overthinking this?  Should I just swallow the repair budget until I can refinance?  I have a few other projects in the works that I want the funds for.

Thoughts?