Hi BP, im in need of some advice/coaching.

I spoke to a private lender today about getting a LOC, during our conversation he recommended that i look into the following product he has

a 0% business loc for the first  9-12 months then 9% interest after that 12 months. the line of credit would be for 200k but there's a 10% fee on the back end. 

this would also mean i would need to create a business to be able to acquire this loan. he did mention that the loc's can be from multiple credit cards, and thus would incur fees (1-3%) to take cash out.  he also mentioned that i should definitely apply for a business loc before going for a personal loc because if i do it the other way, i could hurt my chances in the future.

i did some reasearch before speaking to him and from my research, i should really be looking for a revolving personal line of credit with simple interest.

i have excellent credit and not worried about getting high rates. 

my question is am i trying to bite off more than i can chew by going for a business loc?

also, my goals are to purchase 1 or 2 mfr with the loc as a dp, so needing about 30 to 50k really.  my plan is to purchase them in my name first and then transfer over to an Llc (which i need to setup).

please, any advice would be very much appreciated.