As it was my first opportunity to get some skin in the game, I jumped on the deal and we agreed on a 5 year ballon (4% rate, amortized at 15 yrs).

The main thing with a non-local lender is they might not fully understand the specific market dynamics of your area, which can sometimes affect appraisals or timelines.However, they might be able to provide lower rates or better terms than local lenders so it is worth looking into.

This dynamic will continue to drive up both prices and rents for the foreseeable future.

There are many ways to skin a cat in syndication.  

Does the sponsor have skin in the game?

and you can find an almost unlimited variation on risk ( from low to high leverage, both floating and fixed rate debt, from no to high skin in the game, etc).

The buyer must have 20% to 30% "skin in the game." 

You have no skin in the game! 

Anyone who aspires to be a wholesaler and reads this forum, grow a thick skin.

Any advice around this attached ADU dynamic would be greatly appreciated, as I keep getting different answers depending on who I call.