I can't speak to going rates on a business loan but I would think that is a fair rate for a 35k loan and 5 year term.

Rates have come down a little in the past few weeks.

The rental market is strong too, especially in Midtown and East Memphis, with low vacancy rates and a 5% rise in rental prices.

Everyone knows the 3% or 4% balance transfer fee, but compare the fee to the interest you will pay over the same period with a traditional loan.If you have $10k in debt at an 8% interest rate with a traditional loan versus $10k of credit card debt with a 4% fee and keep both for a year (making minimal payments), you will pay less interest with the credit card.

I have evaluated it to be able to cash flow as a STR with the lender special rate, even with a conservative 48% occupancy. 

definitely house hack if you can.as others have said - cash flow is tough right now with interest rates and prices high. 

I’m glad I’m doing a STR there but as rental rates have grown, it’s only a matter of time until I switch to LTR for Nashville.

Keep it trim, let her out and find a new tenant capable of paying.Truth is money is tight for a lot of folks and we'll see rental flat line or decrease cause not many can pay these rates anymore.

I personally honor their lease rate through the end of their current lease - and usually this is all the tenant is concerned about.  

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.