Also, if you have any recommendations for portfolio lending, private lending and or commercial lending, I would appreciate the referral. 

Many believe this program has significant potential to encourage the private investment of billions of dollars in low-income communities across the United States - it's important we get this right!.

If their simply visiting grandma who had her kidney removed and is in a private room fully stable and it was just a convenient vising time for the renter, then I may decline.

Mgt -- $120.00Mortage $340Closing Costs - $5000Rehab (walking through in 5 days) -- $5000Down payment -- $15,8000Total Investment = $25,800Cash-on-Cash ROI = 10.21%Notes:I'm sure there will be rehab required, that's the biggest unknown right now. 

If you have enough income yourself you will not need it leased up- if you go for portfolio financing locally they will most likely want the property to be leased up first and possible the above habitability as well- if you're looking for hard money you will not need habitability or leased up but as a downside the rates/terms are not as good- private money - wild west any thing goes as long as the lender is cool with and you're willing to borrowSo it depends on what condition the property is in currently and if its getting leased up soon?

To be honest, the most successful Commercial brokers I work with come form investment banking, finance, & private equity management.

The very best book for a beginner (and pros) is “Investing in private equity real estate”.

If you have any questions I'd be happy to chat through private message or another means.

Is it possible to finance these deals through banks or would it have to be private lenders?

The biggest hurdle is accurately estimating how long it will take for you to complete your project as HML/bridge financing can be very expensive.