The popular thinking seems to be on BP that operators obtain non-recourse loans, that can give a much stronger case for the loan to be a bond.

The Ayala family practically own half of the land around Metro Manila.The Philippines has one of the stronger economies in SEA.

This makes me stronger in my negotiations and therefor more confident in my dealings.

I'm preapproved for a conventional mortgage but I want to explore HM/PM to be able to make a stronger offer.  

If an when they do call you back you've got them.This is the point where you need to analyze your whole game figure out how to come out stronger next time.

The ultimate goal, as always, is to build a stronger community.

Remember Dollar General is typically flat for 15 years just like pharmacy (CVS, Walgreens) so the dollar value deteriorates over time and location is not great with dollar stores most of the time.So Dollar store might start out at say high 6 cap or right at 7 but it stays that way versus  a restaurant getting 2% increases over 20 years the blended cap rate is much higher for return and location tends to be much stronger.

That vintage of a building you would need to really look closely at all life expectancies.I can tell you from listing property and selling as a commercial short sale what generally happens is this.I find owners that are upside down in debt service are treading water.Even if they own other buildings if they were all bought during the boom times they don't give out enough money to break even.If you purchased more buildings during earlier years the debt service and properties are most likely not upside down.Older buildings like that need constant repairs over new product.What most owners do is the bare minimum of patch and paste to keep cash flow going.I would want to see the rental history of how long the tenants have been there.Asbestos is a biggie and so is lead paint.When you turn a unit meeting the new EPA lead certified rules cost a bunch more money and you have to use certified contractors.So during due diligence I would get testing done to really see what I am up against.Land was more plentiful back in the 60's and development was more spread out.Landscapes change over time so if this property has a nice chunk of land it sits on you might be primed for redevelopment as a value play down the road.Seller paid utilities are a killer and all my investors hyper focus on it for multifamily as they see it eating into their bottom line.They see if they are holding ten years and have 5 year financing what happens when utilities skyrocket and they have to refi into a higher percentage rate loan.They will get squeezed from both ends.If they get hit with heavy repairs and turn rates they will get hit from 4 different angles.These are the items on my investors minds that buy into the hundreds of units at a time down to 20 to 30 units.Most do not like to go real small as the financing is harder to obtain as many commercial lenders do not play in the smaller space.The bank wanting to finance the deal sound like a small to mid size bank.They want a higher price of course to preserve margins and losses to the books.Bigger banks usually just want to shred the price and sell cheap to get it off the books at all costs because of the large volume of new loans they are doing they are better underwritten.Remember future repairs on older vintage buildings will eat you alive for cash flow.Also it might be a C age building today but when you sell will be a D age.On exit you have to plan on selling for a higher CAP to compensate.If the market is stronger then great but if it's not your plan and expected returns will be inline with each other.Hope it helps.

But, it made me stronger to the point I ponder over every purchase I make.

If not you will do best to find out what is and soon or your inner demons will only grow stronger.