CMHC commercial mortgages

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Has anyone delved into the CMHC commercial mortgage process yet?

I am looking at more and more at jumping in to a 6 plex+ property. There is so much optimization that can be done in quebec as well as many properties have not yet been renovated from 70+ years. 

My main question is how does the property quality figure into their calculation?

Do properties with only month to month leases get heavily discounted on how much mortgage they will extend?

I hear mixed numbers with some people telling me I can, with 500K down get up to a 2.5M (80%ltv) mortgage while others tell me I will be lucky to find a property around the 1.5M range at this level of downpayment because of the way they calculate the economic value. 

Can anyone help me understand the economic value calculations?