how to be approved for 5+ multifamily loan?
Over the years I have accumulated equity in my properties out of state that I currently want to invest in a 5+ multifamily closer to me (Los Angeles). I'm new to commercial so I would like to learn as much as I could here.
One loan option I'm looking at, the fannie mae small loan terms are : LTV 80 DSCR 1.25x
My Plan is to use 1031 to turn my rental properties equity into a 20% down. What are the necessary steps to the purchase?