Yea they would keep that in place and you'd get a second position mortgage for the rest at, well, higher than todays rates.

How much does it cost to buy down rate per %?

yes but they may not pencil out or the rate goes up significantly.

Did RE Cap Rates generally follow higher, along with the sky-high interest rates?

You're also correct that 4 star is officially good but, in reality, it's one of the lowest ratings that's being given and it has a disproportionate effect on the property's rating when we list a new property and so we haven't had that many guests and reviews yet. 

I would never buy commercial at such a cap rate unless I was doing a 1031. 

This sudden jump in rates has not fully caught up with market cap rates yet since especially in the commercial and multifamily property markets, transactions typically take 6 months to transact, creating a lag effect between interest rates and market cap rates since interest rates adjust daily.

You have no way of knowing what your booking rate is going to look like going forward.

Here are the numbers for the City of Austin and the greater Austin metro area:A 30-year fixed rate mortgage is still sitting around 7% interest:For some broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:What if I’m a buyer?

Unless the loan is a much better rate than the HELOC, which it probably won't be, then keep the HELOC and don't pay the origination fee on a second mortgage.