PML typically just means that a private investor or fund or insurance company has appetite for riskier loans with higher yield. 

I would also talk to leasing brokers for this type of property to understand if there is real appetite from tenants for this type of building, as even if it doesn't directly impact your approach, it will give you some insights into how a potential buyer may be looking at it.

I think this is a personal choice based on your investing appetite. 

It is already equipped with a fire suppression system and monitoring.

The lender is now the barrier of entry of their risk appetite and they'll need you to gauge if it's healthy or not-- it's not your job, but there's too many headwinds for them not to do that.

There's a reason why most hard money lenders or private lenders don't offer or have an appetite for these types of loans.

there is a way but only thru a private lender who has an appetite for this.

My pleasure, I would have loved to help more, but I have been working really hard to get more of our bigger national banks on board with rural properties but the appetite is just not there for some reason. 

Incidentally, what I posted is how home loans work in most countries on the planet, the kiddy-glove 30YF is the exception globally, not the norm.For a new and inexperienced developer, banks don't currently have appetite, so model your numbers on a hard money loan at 12% to 15% (I do not offer these).

Somehow some way, this company is suppressing their Google reviews.