Do your homework first - then you'll be ready for a more meaningful conversation with a landlord.Best...Thanks for your response. so I have researched the rates and I understand that screening a tenant is crucial. mu biggest concerns are the carrying costs until a tenant is filled as I’ve heard the process can take up to 3 months to find a tenant.

I’ll keep you posted on his response. 

Thank you for your responses, @Douglas Skipworth and @Mark Ainley. 

Is that on purpose?

@Elizabeth Leb Every dollar of that $20k needs a purpose.

Basically its a big credit card that I can now use for any business related purpose, in my case Ill use it to do more deals.So here is where the 8 unit comes into play.

This is a business purpose loan and will have a prepayment penalty and possibly cost a bit more than conventional financing.

Thank you for your detailed response, Melanie. 

I’m curious about what my rights and responsibilities are in this situation.

@Michael K Gallagher Thanks for the response.