The pros of going bigger, having scale, and forcing appreciation all out weigh anything to do with non commercial.

A license is only required for non-commercial loans, which is why almost every HML will only lend to an LLC or Inc.

From peasant to Prince.

Vehicle repairs on this property shall be limited to noncommercial repairs of resident’s own vehicles and to repairs that can generally be completed in a single day, -unless the tenant receives prior written permission from the landlord.County Code on RV Occupancy: Both parties to this agreement hereby acknowledge that the Thurston County municipal code at Chapter 20.34.020(8)(a) and(c) limits occupancy of Recreational Vehicles in part as follows:“Temporary occupancy is permitted but shall not exceed thirty days in any six-month period.

With our properties the variables are known and so the formula is:Cap Rate = Net Operating Income / Sales PriceSee also:  Estimating Value With The Capitalization Rate OK,  I thought even you agreed that cap rates were not appropriate for non commercial properties.  

Only peasants fix toilets !

I am going to assume the non commercial loans are conventional fixed rate Fannie/Freddie loans. now to some reality about your finance situation:There is virtually no cheaper money than f/F loans.  

Among themselves they joke about the peasants to the West of Chicxulub.2.

(but I'm not confident this is allowed on non-commercial zoning). 

Rehabbing a non-commercial multiplex could convert a negative cash flow property to positive cash flow.