Is this sketchy?

[Mike Rodrigues]

I am ready to purchase my first investment property and I talk to the mortgage broker at the office I am working with. I tell him I have 12k for a down payment, but my parents want to get involved for 35k also. He tells me that I cannot take a family loan for an investment property, but put the money in my account and wait 2 statements. Then the banks won't ask questions and we proceed from there (he did not specifically state this, but when I bought my primary residence they only asked for the last two statements. So I am making an assumption here).

Now, my parents and I are doing everything legit, following IRS laws regarding family loans, and I am paying them back the minimum interest rate of 2.7%.

Is there anything wrong with the way I am proceeding with my first investment?

Any other creative ways to get my parents involved, if this is not ok? The 35k at 2.7% is huge for me as the balance of the money I am leveraging would be at a much higher rate I would assume.

PS I am trying to go conventional, 30 year fixed.