How do you plan on renovating, one unit at time or complete rehab.The problem I see is that if the is a true apartment complex you will need commerical lending.To build equity in a commerical apartment complex a lender will not only take into account property condition but also your rent roll.

I am looking for recommendations for commercial lenders in the Chicago area for 5+ units buildings.

BP Team,I am about the embark on the next step of my real estate investment career and I need your feedback.  I have assembled a group of 4 people including me who represent a significant amount of capital and experie...

@Ben Strumeier  I am a native of Jacksonville Florida and I have owned residential and commerical property in the area but currently I focus on self storage facilities almost exclusively and I cannot be more familiar or happy with the area.  

But also you need to figure out which type of REI you want to do like flips (id advise against this here in our local market) or rentals (im a fan) or something else like commerical etc but obv you are just starting so stick to the less complicated stuff (being a landlord)Best of luck though in your journey though and just post when you got a question 

Under the " learn " tab you will find a variety of tools- podcast, beginner guide, etc -Keyword Analyzer / alert tool - examples :~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~CA, Sacramento, hedge, wholesaling , rehab, single family residence, creative funding , California, sub2 ( subject-to ) ,lease, commerical, property mgmt, etcSupposedly pricing in Sacramento, CA is going upRegardless , Welcome to biggerpockets

Unit Info: - Unit #1: Commerical space currently renting for $750 but should be renting closer to $1000.

I understand that DCRs need to be 1.25 and above for commercial loans, but what source do lenders use to compute those numbers? Tax returns? Just most recent or 2 years worth? Do they ignore depreciation as it appears...

So in a down housing market, multifamily home prices may or may not correlate, and there could be less risk of a property being underwater and not having the ability to refinance.Is this 3-7 year term with a balloon the only option when obtaining commerical financing or are there more typical 15-30 year terms with normal amortization out there?

Take $15,000 out of each property not to exceed 75% ARV These properties are placed in a commerical line of credit at prime plus 1% on a 6 year ballon with a 7 year extension available.