Commercial and Residential - How would you finance this deal?

[Jonathan Styer]

Hello All! I am looking for input for financing a package of properties that I have decided I am interested in pursuing. It is a package of 3 building on 2 parcels. On one parcel are two buildings, one is a SFH and the second is a commercial building, on the other is a SFH. The parcels are adjoining. All three buildings are in need of - from what I am told by listing agent - major renovations. I work in property management and have experience working with contractors so the renovations do not intimidate me but I need input as far as acquiring the properties.

For the down payment I would most likely be using a personal loan which I can get through family for a low interest rate. I am not familiar with commercial loans, but I know in residential this is a no go. Would a commercial loan have an issue with this?

I may be able to get renovation funds as well through personal loan but would really like to acquire those funds as part of the purchase loan. Ideally I would just be purchasing this with cash but I do not have access to that amount. 

Do you think this is a possible option for me? I am very interested in this property because I predict major appreciation here in the next 5-10 years, like 200-300% and I know it will be able to cash flow once renovated in the mean time. 

The property has been on the market for ~15 months, it's listed too high, but I will fight that battle once I feel secure that I can finance the purchase. The area is just now starting to come up so I feel someone will buy in the next few months and I would like to be that person.

Thanks for any help and insight you can offer me.