If you are in a higher asset class many deny on credit score which usually is not seen as income discrimination which is also fair but there are actually a couple left leaning areas where credit score rating can be seen as illegally discriminatory which is ridiculous.  

For insurance, I’d recommend working with a local broker to explore the best rates.

They typically have multiple origination points (meaning very high closing costs) very high rates (compared to conventional but also compared to 6 month or longer waiting period DSCR products) and almost always have VERY long pre-payment periods up to 5 years.

So your monthly rate would go up by about 14%...

Typically, private lenders pay anywhere from $500 to $2,000 for loan documents, depending on the complexity of the deal and the attorney’s rates.

I’ve had experience with both traditional and private construction loans, and here’s my take:Traditional Lenders: The process can be slower with more paperwork and stringent requirements, but they usually offer lower interest rates.

Keep in mind, though, that this approach comes with higher down payment requirements and interest rates, which may not be as favorable

Mortgage payment of $870 PITI with 20% down at a 7.25% investor rate.

As a note, residential properties typically are not evaluated with cap rates, but I think you may have been saying a 7.5% cash on cash return or ROI.

Plus knowing what our re-default rate and our buyback rate is, we know that we owe note buyers less and less on their notes as time goes by.