Also, if you add a financing clause to your purchase offer then it should give you more flexibility as far as having time to shop around for a good loan (Verify with your agent, laws differ across states).

Advice: Treat it like a business as much as you can, even though house-hacking can feel like a hobby, stay organized, and take care of your property and your tenants (pride of ownership, people notice this), for all properties but especially for househacks.I definitely think the pros outweigh the cons, especially folks with flexibility of time and lifestyle.

Since the post, my client has agreed to let someone fund the entire deal and is flexible to hear other proposed terms. 

I went through the painful process of switching servicers to Land Home.Joe was patient and flexible as I was fairly new to note investing.In the end, I left Land Home for another servicer only to come back to Land Home 6 months later when that servicer went out of business.No servicer is perfect, however I will say that the more time you put into building the relationship with your servicer the better things become.

Yes they keep commercials loans on their books so they can be more flexible...I had another conversation with them since I posted this and they are going to re-look into the possibility of 20 or 25 year fixed rate, although he said they don't normally offer fixed rate over that length of time. 30 year fixed rate will probably not be an option.

Although our market is hot, vacancy rates are low (below 5%), interest rates on a presumed 30 year fixed mortgage are historically low (floating around 4.5%) and rents are increasing with the high priced housing market driven by a lack of inventory.Unfortunately, TierraSanta doesn't have a lot of MF's but the surrounding areas hold possibility if you're flexible on your target market.

Thank you all for the the inputs; I've shopped around and this lender actually came up with the most competitive and flexible terms.

I would make sure you decide which method allows you the most flexibility. 

I always urge folks to not buy properties sight unseen, but there are those who prefer to do this due to time / flexibility restrictions. 

Some anchors in a center such as a Starbucks or a Davita Dialysis will do the 10 years.The small operators like to keep flexibility to move so they like shorter term leases generally with the flexibility to exercise the options or not.What are the rents being paid for base per sq ft?