Financing for 5 props in one deal?

I’m looking at a deal for 5 individual condo units that would be sold as a package by one seller.

Could I obtain one loan for all 5 properties?

Would I need to seek commercial financing since it’s five “units” - even though each unit is technically a separate property with its own deed, individual taxes, etc.?

If so, would it make sense to technically buy 4 of the units in one transaction, and the other one is a separate transaction?

Would the closing/escrow process be especially difficult for something like this?

Any help or suggestions would be greatly appreciated.
Thanks

See my responses embedded in your message for details:

Thanks Scott,

So closing on 5 units in a deal like this WOULD be considered commercial?

I definitely wouldn’t purchase each unit individually, but if the terms of financing were substantially better (which I wouldn’t imagine), I would consider purchasing 4 together, then 1 separately.

Considering I’m planning to put down 20-25% (regardless of the structure), would you think that the benefits of one approach would substantially outweight the other?
i.e. With excellent credit and this kind of dwn pymt, would the terms of a “residential” loan likely be “better enough” to make up for the extra closing costs associated with a 4 + 1 closing?

I would think/hope that the terms for a 5-unit commerical purchase would be competitive enough to make the other, more cumbersome approach unnecessary.

Thanks again - and I hope I made sense!
B

It’s a transaction type that has an identity crisis—it’s both and because of this, it’s accepted by neither…

I have funded requests like this in past using portfolio hard money, but LTV has been capped at 65-70 (loan requests need to be approaching 150K-250K [depending on area] to be considered).

Despite your intention to put money down, the verdict is still out for me as to what is the more pragmatic approach to take…

If you intend to “buy and hold”, I should caution you to consider your expenses on the backend when calculating your final ROI—at some point, you will need to refinance each property out of the blanket loan (12 months).

There is a great deal that needs to be said before I could put my name on any one financing recommendation—figuring out your total cost of borrowing for each approach (and hence your ROI) is one of many privileges your current mortgage advisor should be providing you with.

Regards,

Scott Miller