Most private lenders limit to four rentals per building for commerical, but usually can make an exception if a borrower has a proven track record of rental properties.

I want to cringe every time I say it and that is usually the end of the conversation with what I do for a living.

After many conversations and much thought, they agreed to 'test' the waters and turn their home into a rental property.We have since transferred the property into an LLC (Assets protection), cash-out refi  and rehabbed the property.

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.

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.