In the end, it was the best situation for me as I was purchasing as a single person and I was able to buy more house for less than I would have with traditional bank financing. 

Or does it amortize like a traditional mortgage where my payments are 99% interest starting out, and slowly adjust to start paying more and more of the principal?

Find a lender with a slightly lower rate or willing to forgo points, then take that back to your CU and see if they'll match or beat.Besides DP and closing costs, the CU will probably insist that you have 6 months of reserves set aside.I'm no bridge-loan expert, but my understanding is that these loans are intended to "bridge" the difference between traditional financing and your DP, not finance an entire purchase. 

Come up with your own strategies.And I will share with you my secret.Forget backlinks (the traditional way), hell with citations..

Units would range from 1,350 to 1,650 sqft (3/2, mini-master down, 2 car parking).Has anyone had experience selling or renting units that are in a pocket neighborhood setting vs. a traditional site plan?

If you want to scale your business you will probably need traditional bank financing at some point and they like to lend to people with good debt to equity ratios.

An LLC to start probably isn't going to help anyway if you are using a traditional lender since they will often make you sign personally anyway for any loan.

I have seen some people take a quad and run one of the units as a short term as well if you are up to it (we do that for a 5 unit we have - 4 traditional and 1 non traditional)

I worked as an MLO for a brokerage in OH before moving to CO and I learned the ins and outs of traditional lending which I found valuable.

We can only truly determine what’s happening now. 5-7-10 years from now we can work to give our best understanding of what that cap will be based on what the market has told us and our perspective take on interest rates and path of progress will be etc. if you are entering a property at a 10 cap to say when the market has traditionally been a 5 cap it would be silly to say just add .5 and your exit cap a 10.5 and would keep you out of many deals.You want to do your best to determine than run it through other scenarios to stress the result so you can best understand most impacts to your hold