What is the interest rate on borrowing compared to the rate you are earning, then take into consideration the tax consequences. 

Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).

My question would be is a 6 cap the going rate in the area for that building.

Here are a few markets with solid numbers:Indianapolis, IN – Median home price: ~$175K | Average rent: $1,400-$1,600 | Cap rates: 7-9%Kansas City, MO – Median home price: ~$200K | Average rent: $1,500-$1,800 | Cap rates: 6-8%Cleveland, OH – Median home price: ~$120K | Average rent: $1,100-$1,300 | Cap rates: 8-11%Birmingham, AL – Median home price: ~$160K | Average rent: $1,300-$1,500 | Cap rates: 7-10%Memphis, TN – Median home price: ~$150K | Average rent: $1,200-$1,400 | Cap rates: 8-10%These markets offer affordable entry prices, strong rental demand, and higher-than-average cash flow potential.

Don't look for lowest rate, look for lowest cost on fees as you will either refinance out of that loan or sell- the prepay will hit you on the back of the head like a cinderblock wall.

(Anything that isn’t your primwry first is only tax free on a pro-rated basis.)I don’t know how you could swing it but…If they gifted you the kand they would avoid their capital gains tax.

I've owned a property for four years with a standard fixed-rate mortgage, and now I'm looking to convert it into a rental.

Even though there is low inventory, interest rates are high, and many properties don't cash flow, look harder there are always deals, you just need to find/make them.

For lending, your rates are going to be higher than if you were to buy under personal name.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.