LENDERS? Are you created equal.

[Iven Stevenson]

BP Family. Newbie here! Well i'm ready to take the dive into real estate - cash flow heaven. Meet with a private lender and he sent me back these numbers (see photo). I've used the BP Rental Calculators to estimate my CF yet i'm struggling with the high interest rates and points associated with lending. 

• Are conventional interest rate this high?
• Are all Lenders pulling from same lending streams?
• Should i shift direction away from private lending and target small banks?
• Can someone help understand Prepaid & Contribution cost?

Any suggestion would help?  I can put 20-25% DP on this investment