I was last getting terms around 5-6% for the first 5 years, then floating with prime, 20 year term. 

@Madison Sloan All depends on what you're willing to accept and if you can get approved for a loan now or not.

Quote from @Micheal Smoke: Hi, my name is Mike Smoke, and I'm an aspiring real estate investor focusing on multifamily and Section 8 properties in the U.S. as the barrier to entry is much much lower in terms of price compared to Canada and Funding options. 

just double checked my lender is now 80% LTV for short term rentals only 85% for long term rentals

2) The minimum hours required are 750 hrs, but if running a short term rental, 100 hrs is supposed to be adequate, is that still true ?

Sign an Assignment of Contract:      Check the terms of the contract.      

Option A would allow me to keep it as a long term rental .

Definitely some cause for long term concern, but this also can give opportunity to other investors that are willing to invest out of state or more people moving to other states like AZ and TX with long term appreciation in these markets.How is the appreciation in Phoenix?

I personally like the buy-and-hold strategy and we help clients who share this long-term, wealth building mindset. 

If anything, when you accept rentals in the higher-end neighborhoods, the rent rate exceeds the voucher limit, meaning the resident has to have their own income in order to qualify.