Brad Coyne  I was just shopping around in Butte last April, and got some quotes for investment loans at ~7% with 20% down from First Interstate in Livingston. 

.,,, true commercial ( Ie a shopping center) new construction)  etc etc most of that is exempt from any kind of licensure. 

I would suggest shopping around.  

I don't know what they offered you, but if your not happy go shopping.

Bigger Pockets is the one stop shop for real estate investing.

I don't normally do lease renewals, as it just seems to just be a reminder for them to consider shopping for a new place to live.  

I've shopped for duplexes in this area and they are hard to find.

I am about to start the process of shopping for conventional loan rates and getting pre-approved, but am concerned if I shop too much within a short time period it will adversely affect my credit score.Does every loan inquiry during the shopping process negatively affect your credit or is there a "grace" period after the first inquiry?

So this brings me to what ideas and questions i have: i am looking at a nearby new construction multifamily property (townhouse), where the area/location has great schools and convenient  to many amenities such as shopping and easy access to downtown.Also, this townhouse is a new construction property and should reduce or eliminate  my expense cost for the first couple of years due to warranties.  

I've used IRR in many of my larger shopping center analyses in order to drive value, because while a CAP Rate maybe very low let's say in the first few years, if a group is looking to hold the property for let's say 10 or more years, then overtime the goal is for the CAP Rate to go up.