The interest rate is floating based on WSJ Prime rate, but as the prime rate comes down the LOC rate will also drop. 

Playing devil's advocate if you wait till after the second open house then the agent can't float around your offer number.

You also benefit from the float, meaning that you get paid say $10,000.00 at the beginning of the month, but you don't pay all your bills right at the beginning, maybe some at the middle, others towards the end of the month.

Many Multi-family properties now in debt service trouble as the GPs took out very risky 2-3 yr floating rate or adjustable loans so they could cash flow after buying very expensive 3Cap apartments, which loans have gone from 1.5% to 5% or higher, and knowing that obvious and predictable risk since every primate could see mega-inflation coming in early 2021 due to more money printed in 2 yrs than first 200 yrs of country, They "smartly" took out Rate Cap insurance, (cost 50k for a 12 month policy on 10mil loan to cap variable insurance rise about 1-1.5% above the origination level) but now that US 10yr up 10x from 0.31 in 3/2020 to 4.2%, that same insurance policy is 1.5-2.0 million not 50K, so They can't cover the much higher debt service nor buy new cap insurance without shutting down distributions or capital calls.

So that is written as a DTI of 1.2.Here is an explainer from a lender:https://www.rocketmortgage.com/learn/debt-to-income-ratioSo if your goals clash with your DTI, you may have to lower your debts before a lender will lend you more money.You mention 1 mortgage, but then you mention having cash from a cash-out refi on another property - which sounds like another mortgage floating around.  

Fixed means there is a balloon payment, hybrid means it floats after the fixed rate ends.If you tell me which loan and what LTV and DSCR will be I can post a specific chart

Many reasons here, but the most common is they went into deal with short term floating rate debt at a market peak.

If you do pull the trigger, I would float the rate until closing and keep a pulse on the 10yr note.

Current systems and tools:- Assistant to manage payments, invoices, ensure rents come in and chat with tenants for issues- Melio for vendor payments- Baselane for banking - separate accounts for each rental and deposit- Google sheets for Income and Expense reporting- Azibo for rent collection automation with late fee automations- Drive for my leases, SOPs, and documentations of tenants move in/move outGoals of improved system:  ensure I have a read out of how each property is preforming month over month, check on big expense items, ensure vendors get paid, mortgages get paid and rent is coming in, generate APY on float and savings for any big CapEx that comes up, and make my life easier come tax season.Is there a single software people use or what do you do for your business systems to optimize all of this?

I only know of one local bank who will, and with them, it's a commercial line of credit floating at Prime + 2.5% (11% is the indexed rate) and it has to be renewed every 2 years, including a 24hr rest.