@Nicole Heasley  If you're looking for a lender for a 6 unit complex, I would bypass this guy and just reach to smaller local banks in your area, and look for the commercial lending department. 

I think in the commercial world you can depreciate things based on some chart that lists how long something is "supposed" to last. 

We have a property that has interior hallway access to the units that currently has old, beat up carpets.

There is a 1200 sf commercial building for sale for 50k. 

my wIfe has access to MLS and just sent me a message saying the sImIlar thIng.What areas of Norfolk are yall Interested In?

there are many things that determine the value of a lot: location, topography/no environmentally critical areas, access, presence of utilities, zoning. 

I am getting NON agent access to it tomorrow night from a friend of the homeowner... so I will hopefully know more.

If you make an LLC, you can go to a local bank and put it under a commercial loan.

If it's big/commercial and everything's flowing through the A/E channels it may be hard to insert yourself in all that.  

Anything residential will have to be a personal loan and only commercial can be given a loan for an LLC however because my partner and I do not have past experience in the field commercial loans are not available either.