Also I don’t wouldn’t be opposed to house hacking, except I already own a loft style condo in a good area that is my primary residence.

Or should it be an investor style postcard from the very beginning?

So are there any specific pros/cons to home style vs choice renovation?

This style approach seems to be a better alignment of interests than what many other syndicators do which makes for very conservative underwriting.

Speaking as a lender (not investor) with some experience in small balance commercial lending, I can tell you that it is likely going to be tough to find financing most likely as a lot of commercial lenders tend to stay away from churches, although could be more favorable if the building is true retail/office rather than a structure built specifically in the style of a traditional church (i.e. hard to transition to other tenants if needed)

I just finished a medium style rehab and worked with a great GC.

There are still a few good resources for Log Cabins or Off-Grid style properties in remote areas as well.  

Sounds like there was not a fit in terms of style .. like a Wall Street type trying to hang out with a SoCal surfer type.

Maybe it was just the sales style, but it felt that they did not need my business and that they would not allow any more questions (and I had a LONG list).

This type of financing will typically look very different and more like a traditional commercial real estate loan.That means a DSCR calculated based on a full NOI and expense load (so inclusive of vacancy loss estimates, credit loss estimates, repairs and maintenance, utilities, management fees and more – in addition to the property taxes and insurance expense that are the only expenses factored in on traditional residential style DSCR loan financing).Additionally, the DSCR minimums are generally going to be higher (typically up to 1.25x), the loan to value ratios lower (higher down payments) and underwrite more sophisticated (which makes sense considering the size and scope of the property).Many multifamily investors for properties of this size (such as more than 11 units) can syndicate capital and have more sophisticated financial and entity structures – its definitely a different world once you get up here in unit count.In Conclusion – when you are looking to invest in multifamily real estate and finance your investment – make sure you have the unit count in mind before you start shopping – the unit range can have a huge effect on your options.