Again live there for a year or two while we save funds for the next property.The next property would be a bit larger, it would be bigger than a four-plex I believe a commercial loan would be required?

I slowly dug out of a home renovation-to later become a rental. 

I believe the property can use some work and renovations as well as an increase in rent.  

Another option would be to renovate the property and lease it to a commercial customer. 

The reason i only budgeted only 5% for repairs and capeX is because i expect a full gut renovation and i myself am a handyman.

Anything over 50 years old they require documented proof of renovations for things like roof, hvac, wiring, and plumbing.

As a result many of your larger banks agreed to take a standard lump sum as allowed by Fannie/Freddie... most other banks followed suit.

I had a lot of renovations that I did a couple years after I bought it. 

The fact is your loan will be small and the price differences between lenders are more apparent on larger transactions.The biggest difference between lenders is going to be the actual loan officer and how good of a job they do getting you approved and what products and structure they give you to get this loan and set you up for future investing. 

You're posting in Success Stories and maybe should consider posting in an area where you can ask questions and get a response from a larger audience.