I'm not familiar at all with Bakersfield zoning, but usually C-1 is Limited Commerical (grocery stores, barber shops, churches, etc...really anything up to malls).

It is self image --prestige and self satisfaction.In single family homes--some investors are comfortable and like to rent only to Section 8 people --some like middle class -- middle price range --and some like upscale --When you are buying a property --consider your offer based on higher --12% to 15 % cap rate --- and when selling --go with market rate -For any one getting into commerical properties-- need to join that specific owners group and subscribe to magazines --such as Apartments, Hotel Management , etc If you have money--and think out side the box--You can buy upscale -- Hotels like Hilton --which is not doing good and can buy at good price --and convert to a Senior Citizen home or a Student Housing --- and have 20% plus return.If more peopel get involve in Apartments --we need to start a separate topic--forum for that

If you haven't checked out some of the podcasts involving direct mail marketing and commerical financing I suggest starting there. 

That said, if I switch to a purely commerical policy, will they let both LLC named properties and personal named properties into the same umbrella? 

Not all banks sell to FF and not all banks require you to go commerical after 4 loans..

We'd really love to secure a bank loan and many of the properties we're looking at will cash flow really well, so I was hoping to secure a (commerical?)

You could invest that cash and leverage it to buy commerical units or 1-4units.Personally I would buy B class assests.

BP Community, I have an LLC and liability insurance on all 5 properties with the goal to purchase more. I also have a personal umbrella policy. Do you think a Commercial umbrella policy is required vs a personal u...

The land cam be used for commerical or residential.

Thank you If the properties are multi5+ or commerical (more than 4 units) then I can refer you to a lender that can help w/ this.