I'm assuming you either need major collateral, major assets at the bank, or doing millions+ in revenue (like Apple or Microsoft).  

The commercial paper is unregulated as it relates to the new rules and laws apples and oranges and probably not a good example that I mentioned that led the OP to think if it works there its got to work here@Carolyn Morales  also take podcast with a  grain of salt... this are blue sky feel good Macro talks do not take them vertabim..

With that said a fixed rate DSCR is still prevalent in today's market, with most of the ones I have personally been underwriting being I/O for the first five years, allowing investors time for their property to stabilize or capture more monthly cash flow.PRO: Property is qualified based on the income it produces instead of your personal income.

If you lay two illustrations side by side, with apples-to-apples assumptions, they will be virtually identical.

As for the original question, DST v 506(b), this is like comparing apples to oranges.

I was able to use a private money lender long term loan w/ initial IO period to lock this up for my personal portfolio.

6 self owned mortgage with 30YFRM is extremely different with 6 syndication 70%LTV 5 years IO debt based on SOFR.Can't compare between the two.

The "average" S&P rate isn't compariable in my mind to real estate since its still not apples to apples --- you don't purchase properties across the entire real estate sector, you pick and choose. 

Your variance there could be 10% or more. your likely best to pay I/O if the seller will allow, and sack the money away for the bank refinance in 5 years and bring cash to close.For your example, figure a 62,000 note, $413 in interest at 8%.  

Brings NOI to: $322,920 (CAP: 6.45%)Assumable Fannie Mae loan at 4.25% IO with a balance of $3,500,000 ($157,500 annual payments).