Then I thought I will go for multi-family 4+ units so that I can obtain a commercial loan.

As far as the back to back closing make sure the end buyer is not obtaining traditional bank financing otherwise the deal is dead.

—At any time before the later of the filing of a certificate of sale by the clerk of the court or the time specified in the judgment, order, or decree of foreclosure, the mortgagor or the holder of any subordinate interest may cure the mortgagor’s indebtedness and prevent a foreclosure sale by paying the amount of moneys specified in the judgment, order, or decree of foreclosure, or if no judgment, order, or decree of foreclosure has been rendered, by tendering the performance due under the security agreement, including any amounts due because of the exercise of a right to accelerate, plus the reasonable expenses of proceeding to foreclosure incurred to the time of tender, including reasonable attorney’s fees of the creditor.

Well what all do you have to go through to obtain a loan with HML? 

We're wondering if we should obtain a mortgage from the outset or pay cash and then refinance.  

At this point, we did not know where we would find the rehab costs, but I explained to the seller that one of our contingencies would be a financing contingency to confirm that we would be able to obtain the appropriate financing, and he was okay with that.

GC was paid for the bulk of the work but the final draw was withheld due to problems with the new central air system (does not work now on the 2nd floor), some electrical issues with switches controlling outlets that should be independent and failure of the GC to obtain all the necessary permits from the town.   

Paul:We've never had any problems obtaining insurance coverage on any portion of our portfolio - save perhaps when we acquire a vacant building ;-)

They sent an overview of each property but what would be my first and second step into evaluating this information, then obtaining more info about each property.

Account ClosedSounds like you should obtain an agent or an attorney.