I was hoping the rate cuts in the last 12 months would have had more of an impact on mortgage rates. 

Highlighting features like “walking distance to top-rated schools” helped me attract renters even during slower months.Negotiate SmartlyWhile sticking to your legal rights is important, a pragmatic approach could save time and hassle.

Available terms, interest rates, overall goals should determine how much you want to finance on properties. 

If the interest rate are close, then you should pay off the primary. 

You may not be able to cash flow with the current interest rates, but when they drop, you will see it.

You can offer an incentive such a discount on rent if the pay online or via bank draft.

Any input on whether you know of rates likely to drop?

From what I've been reading, cap rate is not a reliable metric for STRs.

The interest rate and down payment requirement are lower than if it were considered a second home or investment property. 

What I'm hoping is to value add and refinance a bit later if/when rates go down.