Use of Funds: Bridge and Rehab LoansLender Points: 2-3.

Are you looking for a bridge loan?  

How determined are you to bridge the gap between your actual abilities and success -- because there is most likely a bridge that exists between what you think is going to happen and reality. 

Bridge Loans (for 1-4 unit investment properties and commercial properties) and 5.

You may pull this off once or twice with a lender, but you'll burn bridges. 

I'll just stick with conventional mortgages until I run out and cross that bridge when I get there then.

If renovations are involved then it would most likely be structured as an interest only bridge loan.

So in all cases but one the spread is greater than 3%, and in that case (using higher-interest bridge debt) we plan to refinance into lower cost debt by year 3 which will then create a spread in excess of 3%.Unfortunately buying commercial income property (includes multifamily) requires very sophisticated financial analysis and there are no shortcuts or rules of thumb that will give you the complete picture. 

You also mention being trapped and needing to sell before buying, but with good credit and low debt, you should be able to use a bridge loan to buy a new home. 

I am trying to decide between starting off in Louisville or right across the bridge in New Albany, IN(properties are cheaper there as opposed to Louisville).