As is normally the case, the construction period rate is adjustable and tied to the fed rate with a lower rate once the loan resets as a permanent loan.

I got fed up and decided to hustle in a new way.

Thank you for that, closed mouths don't get fed so your right.

I think it is unlikely that the fed will hike rates again.The strategy would be that when rates come down organically, and before the introductory period of the loan is over, we could refinance into a 30-year fixed PITI loan at a more favorable rate than we can get right now for the same mortgage product.

He stopped receiving rent from them after a few months of paying on time now he is just fed up and just wants them to move.

So if the Fed cuts in upcoming meetings your rate would decrease.  

Keep in mind you're dealing with a city that will fine you if you do not cut your grass, and neighbors bitching about it. 

We were cash flow positive in like 90 days.Which Fed-Ex do you guys do?

Unless the feds significantly drop rates, even 4% is really good to have cash sitting around until you find something to invest, real estate or otherwise.Happy to chat. 

For example, if you have overgrown grass at 123 Main st they will stop you from selling 456 east street until the violations on other properties are corrected.