I can not fathom how you were not informed that this was a DSCR loan and you should absolutely inquire about the specifics such as whether your are IO or not and the pre payment penalty. 8.4% is high in todays rate environment, even for DSCR.  

In short, Freddie Mac & Fannie Mae offer 70-80% LTV, 1.20-1.25x DCR, 30-year amortization, 5-30 year term, partial-full term IO, non-recourse permanent financing for owners of multifamily apartment buildings throughout the United States.

Hey everybody anybody know of a free spread sheet for numbers(apple) or open office?

Ask them all the same questions, allowing you to compare apples to apples.

Quote from @Stuart Udis: @Jonathan Greene But where else can I purchase my 1% rule properties with booming industries at the forefront of tech, life sciences, great universities and aren’t their rumors  that Amazon, Tesla and Apple are all relocating their HQ’s to Columbus by 2030?

Looking over the spreadsheet, it seems a little difficult to compare as it seems like it takes an apples to apples comparison where it assumes that if I did not buy a say, $1.5M multifamily, I would be paying 1% of that amount in rent if I kept renting.

Helping the space create some norms and baselines will make the bad apples start to stink a lot sooner.Every industry's association from cleaners to Community Associations has some sort of certification or accreditation program for their members.

Do one task at a time in each app so you can compare apples to apples.Load a property with pictures and details.Market that property.See what your marketing looks like from the public's perspective.Submit a fake application to see how easy the process is.

You'll need to compare apples to apples. 40k seems like a low number to design, furnish and amenitize a competitive short term rental projected to do $100k. 

Raising money was like picking apples and investors don’t careInvestors need to be more diligent going forward if they want to truly understand their risk