Not sure what the laws are in ME, but in Georgia a first position foreclosure will wipe out the 2nd position lien making them riskier which commands a higher interest rate percentage.

What makes people prefer airbnb than hotel these days, especially the rate of hotels are relatively competitive (airbnb becomes more expensive than it used to be), i.e. is it still a viable business for the most part? 

The last one I purchased was right at the peak in March of 2022 and when rates started to rise.

What is your rent rate versus mortgage payments?

For example, we discussed the interest rate, looking for good terms that fit with our long-term financial plan.

In every sector of [commercial] real estate, not just office, because of the 500 basis point increase in rates that was vertical.”

Your cap rate on PP is 9.6%, which is pretty good, if we are talking major metro, strong location, quality tenant base. 

What is a good target interest rate and terms?

We are choosing new build because A) our family 4 has a certain size demand B)  the price-quality ratio doesn't seem to make sense when considering a preexisting home C) with interest rates being at near 8% with preexisting homes, builders are offering 5.99% interest rates and the exact home we are looking at is about $75K discounted because it's a spec home and the builder doesn't want to pay taxes on it.So, live in it for 5-6 years hopefully rent it out with a fully finished basement for potentially $4,200 in 5-6 years.

Even more so if the owner will offer a generous interest rate.