He is an investor himself and understood exactly what I was talking about.After we received our approval letter last week, I emailed him about a possible construction loan with his institution and his response surprised me.  

It doesn't mean, I don't look at purchasing cap rate at all or pay no attention to it.  

The money you received from C is used to pay your lender back plus their fee.

Also pay close attention to your competition the apartments near you because your potential renters will be gauging the difference in price and amenities.

I am not sure how well it will be received if I tell them that I don't really intend to use their service (since I am thinking of managing them myself for now), but just looking for some information.

In the purchase contract, it stated that i was supposed to receive a copy of the keys to the property at close of escrow...All seemed well and i felt like i covered my basis.. this is where it goes haywire:15 days after close of escrow I still have not received the Keys; i've noticed them multiple times that i want to enter the property (24 hour notice) and they do not respond.

To just grab a footprint in each market.

But I’m keeping positive, it sounds like it is likely that I can lock in the rate and receive some sort of adjustment if / when my credit FICO score improves prior to drawdown date.

Some will apply for a 0% interest balance transfer and show their credit card balances as MAXED OUT.Then, when they receive the 0% balance transfer checks, they simply do quick Cash Advances on those cards and come right behind the advances with the 0% interest balance pay off checks.

When shopping around for umbrella, grab tiered quotes.