The vast majority of the population, anywhere in the world, prefers the instant dopamine hit to the slow morphine drip.

The rate sounds low..conventional mortgage primary purchases are in the high 6%'s-low 7%'s..The 5 year PPP is a little heavy as usually declining..5%.4%.3%..can also consider 'buying out' of the PPP usually around 1-1.5% of the loan amount upfront..

We have access to capital to build the unit, but with the market slowing down, there is a possibility that we could 1031 exchange into an apartment.

However, I do not plan on investing in this area due to hurdles of entry such as expensive product and high competition.

I know which product that you are referring to. the conventional mtg product has the following features. 1. minimum 15% down payment 2. 30 yr fixed term 3. rehab and repairs can be included in financing 4. borrower can be a first time investor. 5. no prepayment penalty. 6. the contractor will receive an initial draw at the closing table. 7.

This might fall into the 20 year, ARM products.  

I have known him for 16 yrs and he has spent his entire career in retail leasing, primarily on grocery anchored strips, like FNRP's product.  

The process is also insanely slow.

This suggests the rate of rent decline is slowing.

Like Nate mentioned, choosing the right lender will depened on the type of loan product you are needing.