Hi Rachel,I've got a similar arrangement with a portfolio in Florida, in an area where I grew up and still have an extensive social and family network.  

I will not give all the details but my portfolio of investment SF properties is currently sitting at 3.3Mil with loans on those properties at 1.9Mil.

What if you picked up the other one or two properties without refinancing the first, fix and rent them out too, then bring your portfolio of properties to a lender and ask for a single commercial loan on all three together?

My vacancy rate is less than 4% across my portfolio.  

In addition we are always looking for homes to do flipping for our current portfolio of investors.  

I’d like to expand my real estate investing knowledge and network (and eventually my portfolio!)

When I was looking around for lending, anything outside of a private lender or portfolio lender had very similar rules to their loans.

A commercial/portfolio may allow this but admittedly many do not. 

This place should be in the $800's all day long if it has three bedrooms and any chance of passing Section 8 standards.I base a lot of my portfolio on 43612 and it's a great area.

i would call a local Worcester bank and chat,  DCU, MCU, Millbury Savings bank, Bay State Bank,  all carry portfolio loans and can do what they want and not have to worry if Fannie or Freddie will back the loan