If you are ok with the risk, ARM loans from Busey bank offers loans with a 5 or 7 year fixed rate somewhere around 3.5%.

Ahhh interesting, from all the books, forums, and podcasts I've gone through I've never come across that nugget of information, although I haven't done much research on property management explicitly yet.

Stephanie That's right Stephanie, the borrowers can qualify all day long but if the property doesnt meet the SS rule then they are going to have to use a 5/1 ARM, bring more down payment down, buy down their rate, or increase the rents prior to the appraisal (great strategy but hard to implement) in order to get those rents to be equal or > the monthly PITI.

What would you do now armed with your experience if you were in my shoes?

They charge contractors an arm and a leg and the contractors that need lead gen services aren't the kind of contractors you want.

An agent is working as an arm of a broker.

We want an Interest only or ARM to LOWER our monthly payment for 1 year and sell next spring -- when their lease is up. 

We have a PM in place.We want an Interest only or ARM to LOWER our monthly payment for 1 year and sell next spring -- when their lease is up.We thought about selling now but it's appreciating so much we want to wait.The problem is due to job transfer my husband's credit took a hit and mine is ok/good.

The loan is a 10/1 ARM, but I still have another 6 1/2 Year’s until I technically will consider refinancing for a fixed rate.

I do not have your goals but you could use an ARM to your favor depending on your goals.