I purchased a run down 14 unit apartment building with heroin addicts, a guy physically abusing his girlfriend, an alcoholic, a certifiably insane person, rents in various states of collection all for the low low price of 500K. 

@Robert Kirkley  Commercial loan where they have the flexibility to lend on properties that need extensive rehab (no kitchens, heating system, etc). 

Because of these issues and because Cozy is just basically an rent payments platform, we wound up moving to Tenant Cloud which not only allowed us to collect rent online but, we could do electronic lease signings and take care of renter's insurance right then and there. 

They profit from the spread of money collected vs money paid out. 

If you have the credit score, income documents and the right DTI, I don't think you will get a better rate anywhere else.Just protect yourself and put an extension on the contract.

In a few years we would extensively remodel or tear down/rebuild.

I'd like to hear more about what type of property and how extensive a remodel you are planning on doing on each property.

We have a lien on both the property and the MUD receivables, There is a 3 month extension period with a buy back penalty of 1% per month and an equity kicker for us in the development LLC.

Those who are in the business of collecting debts on others’ behalf are covered, but original creditors are not.

Some lenders have "float downs," but typically these are lenders with high "starting" rates to begin with, they're just cutting into excess profit they normally collect, it's not actually a float down even though it appears that your pricing gets better.So if you're getting a good rate, expect not to be able to float it down.