When you submit your paperwork, you will be able to submit the rent at any amount you want to request.  

If you do, just make sure you have all paperwork for current leases, sec deposits, from tenants for past 2 years. more than likely you won't have the verification from tenant that says they agree to what's been paid, a Estopple but honestly come hell or high water if you want that building your going to take the opportunity now that gets you the property and deal with any tenant changes that may come up if they remain.

Have the paperwork drawn up by an attorney, so it's legally solid.

A portfolio loan is a loan type that the bank has direct control over...because it is essentially the bank's direct money...and not Fannie/Freddie money.  

Essentially leaving you instantly homeless without your belongings until your hearing. 

But if they dont have any paperwork or calls, etc...showing this, then I would ask them to help defray some of the costs, especially when they charge for the vacant property check.

I essentially have the same business model, we own and manage multi's and also flip properties.  

The paperwork and the money transfer into my account was painless and easy.

I think this would essentially be an FSBO.Is there a reason this would be a bad idea? 

. $50 or so for the paperwork and then file it with the clerk.