We are planning to hold it for 5 years and bought a rate cap to cover the entire hold period. 

When you have things that you do not know how bad they are until you open up pandora's box, it is hard to perfectly predict the cost.I'd be happy to have a more in-depth conversation if interested. 

We only get a statement from the management company about the rate.

Do you look up competitor rates?

I believe this because I think that on the whole, his first two weeks of actions are likely to: - Have zero no impact on near-term supply (deliveries for single family and multifamily homes 2025 are a result of actions put into motion several years ago)- Put upward pressure on interest rates: Trump's demand that the Fed lower rates will have absolutely no effect, other than providing a cheap source of easy social media clicks and engagement for real estate pundits. 

@Jordan Miller most Class A & B rental properties bought since 2021 really don't cashflow from day one.Class B will take 1-3 years to start showing cashflow.Class A, 3-5 years.Current investors keep making the mistake of looking back at deals from 5-10 years ago when prices & interest rates were both a lot lower, but NOT rental rates.

Of course "hoping" rates will come down is not a sound strategy so finding a way to assume a loan that already took advantage of low rates is a great option.If you were starting over and targeted a large SFH, would you try to maintain the property in a way that would still attract regular homebuyers (not investors) if you needed to sell?

There was quite a bit of unused land and the zoning gave me some flexibility if I wanted to expand various aspects of the property.Also the self storage units were all below market rent and the seller was willing to finance at a decent rate with a 5 year balloon.

Don't quote me on that, but it's easy to look up the IRS regulations.I recently had a conversation with somebody else who is planning to start an STR business. 

@Eli Fazzo The 6% rate is a bit of a misnomer.