BRRRR question on refinance

[Greg Spring]

Hi I am rookie, done only 1 flip, looking to purchase 1st rental. Met with a Commercial Lender at the bank where my business accounts are, a small local bank in Nashville, TN. The best terms he could offer was 20% down, 4.75%, 20 yrs. They loan on the cost of the Single Family Home, not the appraised amount. I'm a newbie but I questioned him several times on those terms. That doesn't sound like good terms at all, any thoughts or suggestions, thanks