I recently inherited some commercial property with no mortgage. I want to start my own business but my savings are very limited. My question is... can I take out, or would I even qualify for a mortgage on the property that I now own, to start my business? The property has a rental income of appx. 2800/month, but I am unemployed. It was recently appraised for 525,000. If so how much would they give me? Do I even have to tell the bank what the money is for? I have head through some friends that having no initial mortgage I would be a great candidate.. any help would be greatly appreciated!

1) Choose a new venture.
2) Get an expert to prepare a business plan.
3) Take this business plan to
Several bankers for approval.