. - To buy smart because our income fluctuates wildly. 

The town is in a less fluctuating market than down south, but if Vancouver has a dip then it will likely impact Bham.

Yes market is at a peak and it will fluctuate but you can't go back and buy at a lower price and you can't predict the future. 

The residential fixed loan rate is going to be way better then the commercial, which more than likely will fluctuate.

I was recently reading different articles about interest rates and their fluctuations and I was wondering if someone could shed some light on the resilience of the owner financing space when the interest rates go up.

I am curious as to how the numbers fluctuate accordingly. 

I think the HELOC would probably be the last option I would want because of the fluctuating interest rate.

I’d like someone to give me an example from history of an asset class - ANY asset class, anywhere - that is not subject to cycles and fluctuation.  

Not sure how much a ES is going to be in your area, in our local market depending on the type and pahse the cost fluctuates - also fluctuates with how quickly you may need it.Loan term you described not bad the 80% LTV is good - the amort is good, the arm is typical, origination ok - you can likley get a non-recourse (thats your rate quote - will change until you lock in)Check the prepayment clause, normally it is setup as a step downYou can likely ge t a 7yr. loanI would encourage you to seek a local bank on your first deal, establish a relationship, perform and repeat :) Originally posted by @Tony Castronovo:First, I am learning that "typical" and "commercial" should not be said in the same sentence. 

The issue is fluctuating income, you could have 30k first quarter and 5k second quarter, in short, lenders will not know if you can pay 3 months of mortgage on that second quarter, whereas if it is a W2, they will know that you will have the paycheck regularly and more assured you have something to pay their debt with.