Perhaps they want long term income for their retirement and ultimately their heirs.

What’s not working right now is traditional long-term rentals—high interest rates have crushed a lot of those deals.

Are they meeting your long-term investment goals?

Under what terms?

Quote from @Jeremy Torres: Quote from @Patrick Drury: @Jeremy TorresIn terms of what's a good offer you would need to check with an agent or do some research on your own of looking at comps in the market.

Just like the asking price, just because the owner suggests one interest rate or term doesn't mean you can't offer something different. 

@Ben SyzekFor long term rentals in Colorado Springs you will need to find a deal at 50% ARV (This is very hard) or do a large down payment of 25-35%.

The technical term is Sound Transmission Class. 

Long term $ can range from 6's-10% range depending on all types of factors - LTV, location, unit count, debt coverage, borrower strength, full doc or lite doc programs, etc..

:)As for LTR rental terms, usually we sign a 1 year lease where tenants are expected to pay Electric and Gas if applicable, while the owner typically pays water/sewer/trash with the city.