Has anyone used a blanket or porfolio loan for cheap rental houses ?

Has anyone used a blanket loan / portfolio loan for lower priced rentals?

I’m buying single-family homes, usually in the $30k to $60k range. The issue I’m running into is that many banks may not want to finance one small property at a time because the loan amount is too low.

I’m curious if anyone has used a blanket loan or portfolio loan either to:

1. Refinance properties they already owned into one loan, or

2. Buy a package of multiple rental properties with one loan.

For example, instead of getting separate loans on each $40k–$60k house, getting one loan secured by 4 to 10 properties.

A few questions:

- What type of lender did you use? Local bank, credit union, commercial lender, DSCR lender, private lender?

- What terms did you get? LTV, rate, amortization, balloon, points, etc.

- Did they require the properties to already be rented?

- Did they use appraised value or purchase price?

- Any issues with using this type of loan on cheaper C class rental properties?

I’m trying to figure out if this is a better option than paying cash for every small property or trying to get individual loans that may be too small for most banks.

Any advice or lender suggestions would be appreciated.