Now, you're going to pay for that in much higher rates that you'll get in FHA or even Conventional loans, but if you're willing to bite the bullet on that to get started, then it's a great tool to use.

correct and at new rates

Your credit will drop if you don't use credit.

I don't require my agents to join NAR and in fact dropped my membership when I opened my own brokerage.If the situation made sense, I wouldn't necessarily require an agent to join MLS, but it's such a basic tool of the trade, I can't imagine someone who is active in the business going without it.

Ive worked with them before for another displaced family and it was great, they even adjusted the rate mid stay and was a big financial win for me. 

I think it really depends on if you are able to increase that cap rate with value-adds post acquisition.

Interest rates are high relative to house prices, this won’t last forever.  

If I buy a house for $400k, and the market drops and the house is now worth $300k, I am under water.

Most service or trades people us included increase the rates for customers we don’t want.  

The "fine print" here is fairly sizeable upfront fees and high interest rates, relative to a traditional construction loan from a bank.