I use both as a RE investor between commercial and residential as both can be used on 1-4 unit properties (non owner/investment occupancy).The pro's of commercial/portfolio financing from local credit unions and community banks are that you can:- talk to a local banker/lender who is interested in building a relationship with you over time and is flexible to make a loan as long as its financially prudent and you show a track record- ability to build a track record with- less documentation scrutiny than a fannie/freddie conventional loan which is more ridged because it needs to be sold to the secondary market so all boxes must be checked to do so (otherwise the loan is unsellable or undeliverable)- is cashflow based via debt coverage ratio or DCR method of qualification (Net operating income / debt service) - can fund to LLC's, entities, and businesses with personal guarantee (PG) usually- can do unique loans like cross collateral or blanket notes across an entire portfolio, can do rehab/construction + permanent financing into one (one time close products), can do soft liens and releasable upon progress on your projects so you can leverage equity with temporarily encumbrances, unique disbursements on credit facilities,etc Hope that helped compare the cash out options.

You need a solid track record with successful exits with the type of project you are wanting to list with them.

Anybody done this before who can share their experience in building a track record and scale faster?

- Do we just keep track of all expenses and depreciation for the portion of the property that is rented out, even though the LLC does not have the mortgage under it?  

Professors understand most of their students are working full time and are there because they want to be there.I love the idea of being on the Entrepreneurship track, or even Management could be helpful. 

@Marshall Martinez I’m tracking!

If the first offer is accepted you've paid too much.Follow up is the magic sauce, track each property and call periodically to "check" on your offer.Never use a buyers agent.

That said, the funkier “hipper” part of Riverside has some cool building by the train tracks.

I will say that for lenders, if you're going to meet one it helps if you have a deal you've done that you can talk about with them, or a specific deal you're considering - or at least some examples of what you're looking for, and the more specific the better.Basically, the more that you can show that you're serious, either by having a track record or by being able to talk intelligently about the kind of project you'd potentially ask them to lend on, the more seriously they'll take you as a potential borrower.It's not unlike a startup seeking funding from an angel investor, there's a whole psychology to it as far as showing that you have some knowledge and presenting it as a safe lending opportunity for them without coming across as "needing" the money because any hint of desperation will turn off a lender or investor quickly.BP has some great resources on this, you could search Bigger Pockets Raising Private Money or something like that.

Track all of these renovation costs they'll add to your depreciable basis once you do turn it into a rental.