Portfolio Loan Challenge
I'm looking for some advice.  This is my first time in the CRE subreddit.  

I currently have 3 rental properties, with a total of 5 buildings.  One property has 2 duplex and a small cottage.  Each building on this property is separately addressed, but deeded to a single lot.

I am looking to get a portfolio loan for all 3 (5) buildings.  But, I understand that getting residential appraisals for all the buildings would be beneficial to me in the LTV calculation.  When I bought the property in question, the plan was to split the lot anyway.  But, I just haven't gotten the work done yet (survery, partywall agreement, variance filed with the city).

I am going to get on the horn with an RE Lawyer friend of mine and see if he has any recommendations for a firm that can handle this process for me, and try to get a timeline.. 

I was curious if anyone here has had a situation like this?  I want to press forward with the Portfolio Loan, but I am worried about the appraisal without this being done first.  Any other ideas?  Or ways to structure things to press forward and get the split done within a certain timeframe after the fact?
[{"id": "flm62uu", "text": "Times are weird now. Good luck.", "replies": [{"id": "flm6hw3", "text": "The lender is ready to move forward as is.  But, I know that the property is worth more separate than deeded together.  I'd be paying a lot more for a commercial appraisal on a property with 5 units, than 3 properties separate.  And their values will be enhanced being separated as well.\n\nI also want to get this finalized and not wait 3-6 months for the variance from the city if I can avoid it.\n\nSo I was hoping people here would have a different path forward.  Like I said, I'm calling a law firm to discuss the process tomorrow and get a legitimate timeframe.  Personal research showed that it would be at least a 2 month process from the city.", "replies": [{"id": "flmb11p", "text": "Who is the lender?\n\nIf you don\u2019t have to get financing right now then you shouldn\u2019t.", "replies": [], "depth": 3}, {"id": "flmd81b", "text": "Find out if an expediter would be helpful in your town.", "replies": [{"id": "flmdv3a", "text": "Expediter?\n\nI mean the definition sounds like someone who can get thus done quicker.  But would this be a lawyer?  What type of professional am I looking for?", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flm634w", "text": "What state are you in?", "replies": [{"id": "flm67sk", "text": "Colorado", "replies": [{"id": "flm6ant", "text": "Got it. Unfortunately I am licensed and know referrals who could handle this is CA, although with the current nonQM market, it would be tough until the shelter in place is over. \n\nI\u2019m sure some of my colleagues on here are in CO though. Good luck!", "replies": [], "depth": 3}, {"id": "flmaddu", "text": "I can do 75% LTV with a bpo, no appraisals. &lt;10 day close.", "replies": [{"id": "flmb48w", "text": "What minimum and max $ amounts do you do?  What is general pricing?  What tenor?", "replies": [{"id": "flmbrqp", "text": "For blankets: I require a 1.1:1 dscr based on a 1007 or actual rents, 30year am, can do up to a 5 year fixed, no score ok (yes, I know, to good to be true), no tax returns, foreign national ok, corp ok, 100k to 10MM. I've **seen** as low as 5.5%, but probably higher. NO TITLE SEASONING.", "replies": [{"id": "flmdj2t", "text": "Mind if i ask what your source of money is that is backing you?", "replies": [{"id": "flndm2v", "text": "VC, and I've been waiting for the 'pause' or 'were closed' order but not only is has it not come, they're pushing harder because we're the only game in town now.", "replies": [], "depth": 7}], "depth": 6}, {"id": "flmdrtl", "text": "Won't they want great FICO scores for the lowest interest rate?    \nAnd likely a good appraisal?  And maybe full docs too?", "replies": [{"id": "flndqgs", "text": "It's based on borrower/investor experience.  5+ flips or investor deals in the last year or two (where you can prove you were on loan docs or title) gets you the best tier.  There's a 500 cutoff for one of the products.", "replies": [], "depth": 7}], "depth": 6}, {"id": "flnh0zs", "text": "Those rates are pretty high especially in today\u2019s market given this is multi-family. Although I understand the hard money niche. \n\nOP you should be looking at 3.5% all-in for your deal. If you\u2019re getting much higher, you\u2019re likely overpaying.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "flnhr9s", "text": "Fannie Mae offers loans secured by a portfolio of 1-4 unit properties. Granted, their standards and rates may have increased since about a month ago, but they are still lending.\n\nBasic terms:\nBasic terms of the agency single-family portfolio loans:\n\n* 5-, 7-, and 10-year fixed rate options\n* $1 million minimum loan amount\n* Max 75% LTV\n* Min. 1.20x DSCR\n* 90% minimum occupancy, no owner-occupancy\n* Non-recourse available\n* Prepayment can be yield maintenance or step-down\n* Pricing reportedly in the low 4% range but likely will decrease as treasuries trend down\n\nNot sure if it's a fit, but it might be a start for you.", "replies": [], "depth": 1}, {"id": "flnj1wa", "text": "Ive done lot splits before and am in the same state as you. I also have good lender contacts. Send me a pm if you want", "replies": [], "depth": 1}]