Good afternoon Real Estate Experts I am planning to start commercial real estate investing later this year with the following plan: Looking to get 10-20-30-40 unit commercial multifamily with 20% down and preferred lender (the downpayment funds will be combined within 2-3 investor either to syndication or real estate fund, not yet decide it).

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

I feel this target can be achieved given recent cap rates sold in the area, and hundreds of thousands of dollars worth of renovations combined done by me the landlord (1 unit+exterior), and my amazing tenants who did gut renovations of their units.The general rule of thumb is to use 3 lenders for cash out refinance right?

You can do a combination of both, so don't limit yourself to one. 

Maybe not to this extent but elements of this happens to a newbie and even experienced people probably every few seconds.

Here is the scoop:About this Market: Toledo, OH, emerges as a prime market for property flipping, thanks to its combination of affordable purchase prices, economic revitalization, and strong rental demand.

@Franklin Marquette I have a combination of both.

You cannot combine them UNLESS the 2023 losses were incurred getting a property ready for rental PRIOR to it ever having been rented before.

Or maybe you want to do a combination of the above?

Maybe you're talking about storm water which enters the sanitary sewer as result of what used to be done in the old days where storm water and sewage combined into the sewer system?