Cash vs mortgage

[Mitch Monmouth]

Here is what I was thinking:

1) Buy rental properties under an LLC in cash to get the best deal with quick cash closes.
2) Perform any needed repairs and install tenants
3) Get a business loan (personally guaranteed) for 60-75% of asset values against the LLC and properties based on assets and cash flow, hopefully at 5%.
4) Repeat either under the same LLC or a new one.

Not having much experience, I may be totally off here as to why this may not work, so please shoot me down! Thanks :)