First mixed-use property, funding advice

[Chase Slepak]

Good morning BP!

I am currently in discussion with a seller of a mixed-use property, looking for some advice on funding this purchase as it is my understanding I can not take a conventional mortgage on it.  At this point of building my business I was not planning to get involved in commercial but this seems like a great opportunity.

Two residential units both currently leased

Commercial ground level storefront is currently unoccupied but can easily be converted to two smaller storefronts.

Should cash flow right away even with the commercial space being vacant.

I have had the property inspected and it is in no need of major repairs or rehabs.  I think this is a great opportunity however I have no experience funding a purchase outside of a conventional mortgage.  Had a preliminary discussion with a small local bank and they are suggesting I take a business loan with 15 year adjustable rate.  

Any advice is greatly appreciated.

Thank you!