I think 'high IRR' is subjective but also linked to the business plan.

I will pay him off using another business credit line I have..key was that I  want to show that my down payment is not  borrowed money hence this plan

Make sure you set aside a monthly budget for maintenance and have the proper insurance in place for maximum protection.I would suggest starting with a single family unit before multi-family as you get used to the business. 

What I did was a Business Line of Credit on all of the properties.

Regarding your script you might try a less business like approach and change it to sound more like just a private individual looking to buy a property.  

However, we are all human, and businesses always have room to improve, which we are always trying to work on. 

This drives us to have a little higher barrier to scaling my investing business, however I am trying to go far, not fast. 

I'm nervous because I've never had a business before and I still have a full-time job as a cloud solutions architect, which I'm really passionate about - so hopefully it won't be my golden handcuffs that may prevent me to thrive as an investor and  I'm excited because of all the benefits and freedoms being a business owner offers, one of which is to connect and collaborate with forums like this and people like all of you, where I can both learn from and hopefully share later as I develop more experience. :-)

Mark NolanCan 408(b)(2) be interpreted as I can use the plan to fund the unit "if the unit is used to conduct reasonable services or business necessary for the operation or the establishment?" 

Many businesses take on debt to make money did these millionaires benefit from business debt but never personally took out debt.