Your answer could guide whether flexibility or fixed rates are the way to go!

Depending where your rental is in Chicago, you should also be flexible with your requirements.

Be flexible and keep an eye out for opportunities, as they often come when you least expect them.

However, there are lenders who offer more flexible terms or even no prepayment penalties, depending on the deal structure and your investment strategy.To find such lenders, here are some options to consider:No Prepayment Penalty Loans: Some lenders, often private or portfolio-based, offer DSCR loans without prepayment penalties, though the trade-off might be a slightly higher interest rate or fees.Yield Maintenance or Defeasance Alternatives: Ask about other prepayment structures like yield maintenance, which can sometimes be less restrictive depending on market conditions.Custom Terms: There are lenders (like us at Phoenix Funded) who can structure loans tailored to your needs.

Since you're selling the business and real estate to a partner/friend you will have some flexibility in value determination. 

@Jake Andronico A reverse 1031 exchange allows you to buy a replacement property before selling your relinquished property, offering flexibility in competitive markets and deferring capital gains taxes.

Sellers can sometimes be flexible with these terms, especially if it means closing the deal. 3.

Highlight the “family-friendly” perks, like extra beds, pet policies, and flexible terms.

The payments tend to be lower than a standard cash out refi, so if you end up in a tight cash spot, you have the flexibility to pay less for a bit until you get your bearings again. 

I prefer small Strip malls or self storage.I need advice on how to find the deals, how to get lending on them and then how to set up the structure.I have flexibility to fly out next month is there are peers who can meet and help me out in their local markets.thanks,Paul