I have a list of PM's, contractors and lenders that have helped several of my investors when acquiring properties in Cleveland.

Do lenders consider this a multi family and require commercial financing or is it considered a single family?

There are costs associated with doing a HELOC.If you WILL be living in the property for the first year, get a 5% down, or less, FHA/Conventional/203(k) loan for the purchase and keep more of your money in your pocket for future purchases, repairs, etc...On the second property, use a private lender to fund the acquisition/repair costs if any, and refi out using a DSCR in 3-6 months.

I highly suggest that you tune in to the BiggerPockets Podcast and connect with the local lenders and brokers of the market you choose.

However we have been having trouble finding a lender that is willing to allow us to get the full 80 percent loan to value in a refinance.

Many lenders will not proceed with out you.2.

Make sure to connect with local lenders and brokers as it's beneficial for achieving your real estate goals.

And even if you have enough cashflow to cover debt service, you may not hit typical bank lender DSCR covenants.

Have you talked to your lender on these properties so see if they would give you an equity line? 

Seeking Advice on Connecting with Private Money Lenders or finding 50/50 money partners – Your Insights Welcome!