I didn’t want to cross any lines.

Has anyone used an unsecured line of credit to make their first investment? 

We have thought about getting a line of credit through the bank, pulling in another partner to help out with cash, and also private money lenders. 

I'm guessing his reference to a commercial bank was simply a choice of wording for conventional lender.I agree with your position on using variable rate financing - particularly now where lender have build a generous hedge into their fixed rate products.  

If still looking drop me a line.

So my question I have is would it be possible for me to get a LOC (line of credit) with my local bank and then use it for down payments on my properties I want to invest in? 

I was just looking for affordable escrow services so i could get the best prices on every line item on the closing sheet. 

I do however have a job lined up for January right after I graduate that will make much more than 3x the mortgage payment.

I was thinking of something along the lines of a Wraparound Mortgage that has the initial $60,000 then having different options for the sellers depending on how much cash he wants now.  

Bottom line is that first, you have to go lighter, second you have significant prep work, and third if you do some searches you'll read lots of people that wish they had not done it.