A different property that I was looking at (personal residence but long term live-in flip or future rental) they would give me a 15 year fixed, 20 year fixed, and 15/1 ARM (amortized over 30 years, but only adjustable in the last 15 years).Ultimately my advice is to get out and talk to some of your local banks.  

The buildings are on separate parcels and lender is willing to do individual 30 year fixed on each one or portfolio loan with 3/1 Arm amoritized over 30 years, both interest rates are just below 4%. 

Many have stopped looking at homes as it cost arm and a leg to own housing.I am not a strong supporter of using median home prices for comparison.

Might just get licensed since it doesn't cost an arm and leg and it will protect me. 

It would require the use of an ARM, and a variable rate loan for renovations.

Eventually they will come back up, and some of the folks that refinanced to an ARM may not be able to cover the difference, so some of the extra cash that's in the market may dry up as well.

Central location - relatively motivated sellers - mostly fed subsidized (mental health) - is it worth renovating and raising rents      - is it possible - small Apts (mostly 1 br) - option to hold and cash flow then repurpose as city changes zoning / vision How do you finance a large commercial purchase like this - % down / LTV - amortization / ARM - cash flow requirements - inspection requirements - special clauses for maintenance refinance options later Asset or personal info more important Code requirements for commercial loan Deferred maintenance list -What are main issues with 50 year old apartment building ?

My local banker will do all the deals I want at around 5% for 15 year notes on a 5/1 Arm with a 2% cap.   

When I went directly to the banks they all offered 20-25 year amortizations, rates around 5%, 70%LTV, and ARMs between 5-7years.  

After my last 2 purchases, Clackamas county has sent a letter wanting to verify that the transaction was at arms-length (to properly assess I'm guessing).