Just make sure to check if the comp is primarily a STR, which might make the mid term rates look higher if that listing is not targeting mid term bookings.

In her opinion, many investors are desperate to get out of their saturated markets but are waiting for interest rates to come down since many of them had purchased back in 2021-2022 at lower rates and higher prices.

Even if slightly higher on the rate, you say you plan to pay it off in 7-15 years, so a 10yr ARM may be a good way to not have to refi. 

Ensure your agreement has no pre-payment penalty.In my experience, private money loans (which is what this is, as also previously explained in prior responses) typically come at a higher rate ~ 8%-12%.  

Most also rely on beefed up rents and unrealistic operating expenses in their pro-formas to justify higher sale figures and can generally take advantage of their investor clients who are not familiar with the nuances of the market.Again, my recommendation is to be more active with your earliest investments but if you feel so strongly about a particular market network and partner with the leading developers  in that  market.

If you are going traditional you will see rate and closing cost breaks with 25% or 30% down. 20% down will be higher rates and fees.

Bottom line - All hype, bs, misinterpretation, opinion bias, etc aside, sellers willing “owner finance” the sale of their property for one reason - and one reason only: They PERCEIVE that they are getting a higher price for their property by owner financing than by a cash (cash to them) sale.The “perceive” part is why buyers can sometimes structure terms ridiculously one sided in their favor - because some sellers are so focused on PRICE they become oblivious to anything else.It’s why I and numerous others have been able to structure 20 year owner financing loans at ZERO interest; why sellers have accepted “substitution of collateral” that gave them a lien on recreational land I had rather than their own income producing property; why sellers accept second position liens and allow buyers to obtain new first mortgages ahead of theirs (subordination), and why sellers always accept mortgages without my personal guarantee.I myself sell properties and provide owner financing to obtain a higher price.

Plus, renting by the bedroom offers more control over tenant turnover and higher overall rent.For other investors or house hackers, this strategy could be a real game-changer.

August 2024 payroll numbers continue to show a resilient job market, despite revisions expected to push the data higher, following a trend seen in previous years.

Both of those things will contribute to the higher cost of the rate.