Can you finance multiple cheap properties together?

[Andrew Erickson]

I am looking at a few deals for houses that are very cheap. These houses are $40k - $60k each. The problem with deals like this is that I can't get a mortgage on them since most banks won't do a $30k mortgage. 

Is there a way to combine a few of these in the same neighborhood and finance them together? If I bought 3 very similar houses that totaled up to $160k, could I get a 75% loan on them on a refi? If a bank won't do it, is there a way to structure it to get private money? 

[Mike V.]

@Andrew Erickson, I did a lot of research on this and found lenders willing to do it on individual rental properties in the same area.  I decided against it because each property still needed the same lender requirements and costs (appraisals, inspections, etc) so the cost wasn't much better than several individual loans.  Start up a convo with a few and see what they say.  Never hurts to ask!