The smoke drifts, on the breeze, up and into my second story bedroom.

OK  So I'm sitting around looking to see if there are any deals floating around. 

If you went the 20% route it looks like you're floating around 10-12% COC based on your numbers.

But I would use the waterproof interlocking floating type.

Here we do not have mortgage terms longer than 7-10 years and most folks use a 5-year term, so the concept of ones mortgage rolling-over every few years is par for the course ... you simply renew/refinance, or pay out, as your mortgage comes due.On those 5-year terms, you have a choice of either a fixed-rate mortgage (on a 25 - 30 year amortization) or a variable rate mortgage (which floats with the prime rate).  

You should have the $10k float ready to go at closing.   

They own houses in suburban markets and badly manage the vacancies when they hoped to ride on the upward value float.

They were blaming the tenant, but it sounded like a floating neutral or phase dropping in and out.

Commercial loans have a higher base interest rate, come with prepayment penalties and usually go to floating rate after 5 years.  

As this area isn't so regulated, how does one actually receive the" benefit of their bargain" if after committing to a loan, the different figures begin to drift those those understood as the agreement?