My first deal, but need advice!

[Young C.]

Hi All,

After reading postings and blogs, and listening to Podcasts here for the last couple of months, I finally pulled the trigger. 

I have my first rental property under contract.  The purchase agreement is a 6-unit deal in three duplexes (three parcels) that are located next to each other.  It looks like I have a couple of financing options: (a) three conventional loans; or (b) a commercial loan.  Both require a 25% down payment. The total loan amount would be around 200k.

Here are the pros and cons for each of the options: 
<Three conventional loans> pros: 30 year fixed rate, cons: 3X closing costs and lending fees.

<A commercial loan> pros: lower closing and lending fees (perhaps), cons: a 20 year at a higher rate (the rate will be adjusted every 5 years without a balloon payment).

I asked the banks and the title company for a breakdown of the costs for each option to compare.

Since this will be my first deal, I would like to ask the BP members for advice.  Is there anything else that I should consider?  I would appreciate any insight from you!  I don't want to screw up my first deal. :)  Thank you!