I have seen I/O for 2 years or so on commercial stabilized retail centers but these are larger properties with CMBS type loans.For STNL the value of the appraised property has a current value and a DARK value.

Right now, interest only (IO) loans could be had on 1-4 units in the 3%...ish.

Freddie Mac or Fannie Mae Student Housing loan programs - 80% LTV; 1.30x DCR on a 7+ year deal with partial term IO and 30 year amortization.

The owner would consider a 10-15% carryback (likely 3-5y IO) for a few years so I would be able to come out of pocket with about 50% of my investable assets/reserves to close the deal. 

Here are deal details and what we are looking for:Price: $2.6 MillionDown: 20%Loan Amount: $2,080,000Credit: PrimeNOI: $185kUnits: 31 apts/ 35 storageWe are looking for I/O year 1-2 (not deal breaker) and sub 4% rate 3/5/7 year ARM. 30 year term and no refinance penalty with same lender.

This mitigates risk and provides flexibility if (and when) things hit the fan.For larger MFR, one option that looks good is commercial with renovation costs rolled in (typically 20-year, sometimes with an IO period) then refi in year 3 or 4 following repositioning to a 30 year commercial (usually with a different lender).

The origination fees, IO period, delayed payment, and other terms also factor in here.

It syncs very well for iphone at least and if a cold lead calls you back iOS recognizes it with name in mojo.

This is a theoretical deal:Seller Financing 32 Units $2,500,000 deal.I put 10% Down ($250,000) at 5% I/O for 2 years.My annual debt for these two years is $112,500. 

@William Garcia nowadays non hard money I/O loans are hard to come by in residential real estate (especially now as non QM loans are frozen at most banks due to the pandemic).