They are short term loans, usually 6-12 months, high rate, interest only payments. 

Don't expect rates to come down. 

They’re asset-based, meaning the loan is secured by the property itself, and they often have quicker approval times but higher interest rates (think 10–15%) and fees.

Right now, you have a property with a great equity position, solid cash flow, and cheap debt (interest rate is low). 

That 4% cap rate on in place financials is a lie.  

The interest rate is not special nor is the 20% down (80% LTV).  

@Jordan Miller most Class A & B rental properties bought since 2021 really don't cashflow from day one.Class B will take 1-3 years to start showing cashflow.Class A, 3-5 years.Current investors keep making the mistake of looking back at deals from 5-10 years ago when prices & interest rates were both a lot lower, but NOT rental rates.

One thing that happened back then its the rise of all this private money..

Last year, I purchased a SFH under market at 7.65% interest rate and did some rehab to up the value.

I keep hearing that costs of labor and supplies are rising (when aren't they?)