Several of our out of state investor clients are securing very healthy terms on CRE including apartment complexes and industrial warehouse spaces with as little as 25% down and rates currently ranging from 5.5-%-6.75% on 25 year amortizations. 

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

In my market the current average MLS rent ratio is significantly below 0.5%.  1% on the mls is a unicorn find in my market.  

If I were to invest in St Cloud I would need the numbers to be above 1% due to added risks that I see in your market.

They have been approved for a single family home Fannie loan (cannot do FHA because my husband works in the Cannabis Industry and the gov't will not allow).

Before 1957, there was no industry or investing arena defined as residential real estate investing.  

Since they were family friends - we rented to them less than market value.

In my market, multi's often sell for less than single family homes.  

Real estate markets correct themselves and normally on a localized level.

Whenever you see a syndication directly marketed, it is only open to accredited investors.