Freddie SBL offers 5-10 year fixed rate options, as well as 10-20 year "hybrid ARM" options which start with an initial 5-10 year fixed rate period, followed by a 5-10 year floating rate period.

As far as meetups go, you can find a lot of local events posted here on BiggerPockets: https://www.biggerpockets.com/forums/521-real-estate-events-...I also have a list of Chicago meetups that I can share with you as well.

We live well, have a nice house which I built from the ground up and saved 200k off the top. 

As for your ques if to wait, well, it depends on the market, in some parts of the country prices are still going up, slower, but still going up, other parts the prices are coming down, you know that area, what is happening there? 

He is a wealth of knowledge on the area and is actively investing locally as well.

A well-structured deal with a clear exit strategy can be just as valuable as a full rehab.

They had carpeted the bedrooms and common areas, and the living room was still original wood...well I decided to pull up the old carpet and lo and behold - original wood in pristine condition.

Well, what would you do with that extra cash flow? 

I will only get one chance to set my real estate foundation, want to make sure I do it as well as possible without suffering paralysis. 

They want someone who is going to treat their employees and their customers well.