However, about a week ago, I followed up, and the agent mentioned the price had dropped with no activity, and that the occupancy restriction would be lifted after 30 days on the market.I made a low offer, and after some back and forth, they declined but then listed the property on the MLS for less than their lowest counteroffer to me.

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On the other hand, saving that $4,400 could go toward a refinance later if rates drop significantly in the future.

If you have unpermitted renovations and have it under contract to a buyer, they are going to drop the deal.4.

Hello @Jordan Wisser,I agree with you regarding competition heating up if/when rates drop.

and of course a lot of DSCR loans are quote with a 5 year pre-payment penalty which of course can be VERY expensive if you have a 5 year flat 5% PPP and either rates drop or market conditions are such that you would like to sell the property. 5% of 300k for example would be 15k. 

In industrial, my experience is clear heights, door count and size, loading dock access, and (probably not the case here) how perfectly level are the floors.I would also run a price sensitivity on how far rents may be able to drop to still make this worthwhile.  

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I'm just curious should I furnish the place or just keep it empty and people can move their own stuff in and just drop the minimum lease duration to 3 months?   

There is always a chance that rates will drop, but I would imagine $25K would buy down the annual rate so significantly that you would never see a lower rate offered by a bank so you wouldn't even think about refinancing.