They could self manage for several years, using the rental income, until the next phase of their retirement.If they have a decent amount of financial discipline, they may want to get a HELOC now before they build to get the most favorable rate.

My firm has several lenders who can seamlessly close in 15 days on 'traditional' mortgages at/below market rates and we've been doing so for a couple of years now. 

The key is for you to separate the utility costs from the rent, then advertise your units with the rent rate only and explain the utilities later.HOW TO SHARE UTILITIES 101You have a property with two or more units and the utility meters are shared.

The deal doesn't work as well with higher interest rates.

Also, there is a need in the marketplace for a co-living PM company that doesn't charge too high of rate. 

Highlighting features like “walking distance to top-rated schools” helped me attract renters even during slower months.Negotiate SmartlyWhile sticking to your legal rights is important, a pragmatic approach could save time and hassle.

Fannie/Freddie (Conventional) loans aren't just about rate and transfer taxes. 

Bank Credit Line How did you add value to the deal?

And also that rates are just going to continue to be an issue, so it's likely something to plan for in rent rates and/or overall investment costs. 

When you go to a Bank or Credit Union, they can only offer you what products that bank or credit union offer.