To property manage that number of units in a working class type of neighborhood I would charge 8%. 

Yes, but while some tenants will pay to be in these 24 hr doorman type with a gym, you have to offer something different.  

CON:  It is risky, just like any other type of investing.  

So I have two properties under an LLC that are free an clear and I would like to use them as a collateral and like that make sure of excess cash to purchase it   any Ideas on type of loan options?

You would want to check with your banks first so you know what to expect, as well as if they even want to do that type of loan at all.

I was typing up a reply but then my iPad cleared it.

We acquired a vacation home. We purchased this as a second home with a residential mortgage. Now, however, we have decided to rent this home as a BNB, nightly (it is permitted.) I believe that we should get commerci...

What would it take to become funded, as this is my first look at this type of funding.

Depending on the type of loan you get (FHA, Conventional, VA), you may be able to pay as little as 3.5% down at an interest rate of 3-4%.

If so, what type do you own?