The longer term loans would have lowered your monthly payments and decreased the costs.As for rent, each year you need to look at rents in the area to decide how much you will be increasing the rent by. 

What type of loan is this?

DSCR loans are not that low and regular hard money loans will be in the double digits.

Here's a breakdown on loan options to consider:FHA Loan: @Brittany Minocchi is right in looking at FHA option.  

Start by getting pre-approved for a loan, ensuring your credit score, debt-to-income ratio, and finances meet lender requirements.

We use a construction loan to build a 4bed 4 bath cabin.

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.

Kathy, check out Anchor Loans as a comparable. 

I’d pay my 0% interest for a year credit card loans and 401k loans off asap then repeat.

The cause of the 2008-2010 Great Recession was bad real estate loans - if you could fog  a mirror, you could get a mortgage!