Buying two homes at once

[Ryan Boren]

Hey BP,

I am currently interested in placing offers on two properties near me and was wondering how I can purchase both properties under the same loan? Ideally, I wish rehab cost could be included in the loan as well (probably wishful thinking). I have heard over a commercial loan to purchase multiple properties and avoid multiple closing cost. 

I am located in the south suburbs of Chicago if anyone knows any banks that provide the service I am looking for. 

Thank you!

[Wayne Brooks]

There is no great benefit to this as most costs are "per property"....appraisals, title insurance, pre paid taxes/insurance, etc.  You'd only save maybe a few hundred bucks, certainly less than 1$k.  Disadvantages...tougher to sell/refi the properties individually, commercial loans likely won't have a 30 year terms, will be payable in 5 years or so, etc.