buying a Duplex says cash or commercial loan only?
I am looking into a duplex and the listing agent says it requires a commercial loan or cash. It's got a $210 a month HOA that covers roof and exterior maintenance. selling for about $80k each, i'd  buy two that share the same roof. I'm a first time home buyer looking for an investment but a bit stuck on how to go about this.
[{"id": "ikdxdlr", "text": "Have you seen the interior? It\u2019s probably so rough inside that traditional financing is ineligible.", "replies": [{"id": "ikdyw9o", "text": "Yes, I have. It actually looks like they just renovated one side (hard wood floor, nice shower,) and the other side is not bad.  they're both 2 bed 1 bath.", "replies": [{"id": "ikfnoid", "text": "Call the selling realtor and find out.  There are non-warrantable condo lenders.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ikebi3e", "text": "Sounds like its \"non warrantable\" meaning does not meet conventional financing guidelines.\n\nhttps://fhmtg.com/2019/02/14/what-is-a-non-warrantable-condo/", "replies": [{"id": "ikemrb4", "text": "This is the answer, though probably not just due to property condition. You have to keep in mind that when you buy a condo, you\u2019re not usually buying all of the rights you\u2019d have with single family, which is something lenders care about at the end of the day.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ikf9gcz", "text": "As others have noted, the vendor may be indicating that a standard resi mortgage may not be attainable.", "replies": [], "depth": 1}, {"id": "ikggt9z", "text": "comments about warrantable vs non warrantable associations are correct. but that doesnt necessarily mean you have to take a commercial loan many condos are funded by conventional residential mortgages", "replies": [], "depth": 1}, {"id": "ikghwr8", "text": "I actually just bought my first two units in March. They were 2 non-warrantable residential condos. \n\nI got portfolio/private loans (one personal residence, one investment) from a regional bank. I got a fair rate without being gouged. Be careful of getting gouged! Someone tried to gouge me. \n\nI know other owners in this small 4-unit complex got loans from the local bank in town center, but I\u2019m not sure of their loan details\n\nBeware, you may need to put down a bit more than a public loan would require and your rate might be 1% above public loan market rate", "replies": [], "depth": 1}, {"id": "ikgi3zv", "text": "Usually that means that the property is in a condition that doesn\u2019t meet the standards of the government agencies that back government mortgages (HUD, VA, USDA, etc.). There are other potential reasons, but usually it\u2019s a property condition issue. Figure out what\u2019s wrong with the property and if you\u2019re willing to fix the issues.", "replies": [], "depth": 1}]