Don’t chase rates.  

What's your current interest rate?

Cap rates:  Cap rates have been expanding, but sellers think they will tighten. 

I'm open to properties were cap rate is around 10%+ and Return on Cash is 10%-20%. 

"Collin, why are your rates twice what they were last summer?" 

Most lenders that I work with give Wholesale Rates (vs retail rates when you go directly to a lender). 

There are some great suggestions here on down payment, interest rate, servicing, and underwriting the borrower.  

A line of credit is adjustable rate with interest only payments that will have a "draw" period usually of 3-5 years for investment properties (usually 10 years for primary home) then will amortize over the remaining term after the draw period.

We raised $4.5 million in equity and got $4.5 million in fixed rate debt from Freddie Mac at a 5.85% rate.

And it's very pertinent to today's environment because it doesn't look like interest rates will be coming down much, if at all this year.