Prices have increased (higher terms/rates) as the fed rate has gone up so you have seen people who could get 8 or 9% now in double digits.

In this case, you can use Rental Income from the units that you will not be living in and that income can count to help you qualify.FHA rates are going to be lower than conventional for you almost always, but FHA does have a 1.75% funding fee. 

No fees = higher rates.

New-home sales hit a seasonally adjusted annual rate of 698,000.

The investors get much more profit out of the property.Recommend having a very open conversation with your FIL, expressing your interest in potentially taking over the property from him.

I see that real estate agents and brokers are too negative on sub to deals……investors looking for low interest rates and or low down payments are too positive on the same.As I stated the reality is somewhere in between, depending on individual circumstances.  

Higher inflation equals higher interest rates. 

You can find out nightly rates, occupancy and amenities.

Thought about refinancing at the time, but didn't do it before rates exploded.

I've got perfect feedback and great guest reviews on my STR but I'm better at running LTR.