I would recommend that you check out the financial models on the Adventures in Commercial Real Estate website.

no one is commercially loaning at that interest rate right now. 

Quote from @John Friendas: Hey,My investing partner and I have reached an agreement where he would have the debt under his name and apply for it individually, and I would do the majority of the management (he is out of state and my income is half his).

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

Another downside is you loose on the advantages, of the Federal Tax Code, by not closing in the name of a LLC/ LLC taxed as an S Corp, or an S Corp.If you want to close in the name of a LLC/ LLC taxed as an S Corp, or an S Corp, Mortgage Lenders will offer you Commercial Loan Terms (25-30% down, a 15-25 year amortization, and a ballon due in 5-7 years).

You can also find commercial brokers that are in that space and build the relationship.

You can easily look them up on https://nmlsconsumeraccess.org/If they are a commercial lender, you may want to check for google reviews

Quote from @Mike Johnson: Hi everyone, I was curious what might be some of the biggest problems to you run into while managing your properties?

@Ken Latchers how do you manage the security deposit?

I got my first Motel/Commercial deal under contract.