It is surrounded by single family homes and residential neighborhoods.

Most info I find is for residential land and those tenants.

They are out there.Don't expect residential Fannie Mae rates and terms.   

However, given that residential real estate value is based on ARV, I am struggling to find comps on a rented 3 fam property that seems to be under-performing.

Conventional products have a limit on the number of financed properties you have.commercial products (these ARE available on 1-4 unit residential properties) do not!

However, it would be extremely rare for this to apply to short-term rentals of your home or second home.Exception to the Significant Services Rule – If the personal services provided are similar to those that generally are provided in connection with long-term rentals of high-grade commercial or residential real property (such as the cleaning of public areas and trash collection), and if the rental also includes maid and linen services at a cost of less than 10% of the rental fee, then the personal services are neither significant nor extraordinary for the purposes of the 30-day rule.A loss from this type of activity, even when reported on your Schedule C as a trade or business, is still treated as a passive activity loss and can only be deducted against passive income.

I have a great connection that could help mentor and help me get started in commercial, but wondering if it would be a better idea to start in residential to get some experience first.

It ranks No. 14 amongst 30 municipalities across Canada for having high residential rental costs.

If it's giant oak trees then "Big Oak Estates" and if it's the Blanchard school district then "Blanchard Estates".Then, every time you say the name it's a sales pitch for the property.The word "Estates" on the end makes it seem classy and like a residential subdivision.

You can exchange from residential to commercial or raw land or any other type.