With the recent rate cut by the Fed, most banks are not offering this rate.

That will give you a clear cut view. 

The cost of financing will contribute to these rates and help you learn what your costs can be and how much cash you may need to tie up.  

It had a set of covenants tied to it.  

Why would you cut yourself off from a large segment of people.

But I would recommend cutting out the middle men.

The FED went BIG with a half of percentage rate cut at today's meeting and indicated an additional .5% before the years end. 

Hi BP'rs, I don't have a good sense of how the interest rate cut today will affect me as a new investor looking for my first deal... will it start to drive up prices of homes in areas i'm looking at as money gets cheaper or am I off base?

Look at the credit card debt and interest rates and pay some of that off (assuming your personal credit rating is tied to the business).

Personally, if I were younger and not tied to anything (kids/schools/jobs), I would house hack over and over and over.