Will the lender want to change loan terms/rates?

There is demand for this type of housing, and buyer-landlords can achieve a decent return on investment with new properties while benefiting from long-term appreciation.While Worcester may not offer the vast expanses of land seen in other cities, thoughtful development and strategic investment in Build to Rent projects can meet the needs of residents and provide solid returns for investors.

I assume you are referring to 3.5% and 5% down,Well the 96.5% LTV FHA Product is great, it typically offers more competitive rates than the 95% LTV Conventional product.However there are stricter requirements on the property for an FHA product.Speak with a broker who knows what they are doing and they will point you in the right direction.Neither of these products will qualify for 5+ Units however, stick to 1-4 units.

The tenants I meet often say same thing, that they would never rent from X PM as they are impossible to reach.   

Note that in their latest meeting minutes, they are talking limiting to 5 unrelated people, and explicitly looking to eliminate for profit rent-by-room with exception being if the owner lives on premise.

I fly back to take a tour of his market meet his wife as well on my dime..

The challenge with BRRRR right now is interest rates and getting all of your money back out. 

All other assumptions look good to me, but I must admit the cash flow per month wouldn't meet my criteria for the investment - it's lower for my returns.

The values have gone up and our cap rate is now less than a hands on property would be (we have several, that's all we do).

My team hosts quarterly meet up on the Lake!