LTV is approximately 63% $475k loan, value around $750kDecent cash flowCouple of capital projects coming up in the next 2-5 years totaling about $25kHere are my options:1. 30 year fixed at 4.125% - principal & interest payments2. 1st position HELOC tied to prime less 1%, adjusts when prime adjusts, can lock the rate sheet of the day (at any time) to a 5, 7, 10 ARM at 5 year treasury swap (H.15) rates plus 2.25 or 2.625 - minimum interest only payments due during first 10 years (I would continue to pay down principal).

And now check out a chart of the 10 year treasury (loosely tied to mortgage rates).  

My long term goal for real estate is to get into business with the most luxurious real estate such as multi million dollar homes, 5 star hotels, casinos, resorts etc. 

Treasury yields are currently near all-time lows, interest rate spreads for most lenders remain at favorable levels, and underwriting guidelines continue to moderate due to an ever expanding supply of active lenders in the market.

That's the world of Commercial Lending - -Pro:- the CU is treating you as a professional - - not too common for CUsCon:- the ARM and refi Typically, these loans are  X years, Due in Y (implicitly coming due with a balloon payment.The X years sets  the amortization table and you refi at Y years;  eg 20/due in 5The propert(ies) are already vouching for you (hence Com Loan), so when the Y years arrives, you're refi'ing the balloon amount and it should be a cakewalk with the same CU unless the IMF, EU, & US Treasury all go belly-up.

Treasury.

They build a casino in Erie a few years back.  

. § Those engaged in the sale of manufactured homes that also engage, even once, in facilitating a credit transaction have been reclassified) for Treasury Department purposes as “lenders”. § There are very serious consequences for not accepting those compliance responsibilities. § The Treasury Department has signaled they will not tolerate “loopholes” and they are working to broaden the base of those who must comply with the end goal of including every business that deals with big-ticket transactions or any other transaction where larger amounts of money change hands. § An unstated, but underlying goal, is to track all cash movement in the United States so as to also ferret out and destroy any underground economy that exists in the United States in order to collect taxes on monies currently going unreported.

I could make 2% just on treasuries.  

Hey BP, With our newly proposed casinos being built in Massachusetts shortly, what do you think will happen with property values?