With that being said, there are numerous variables to account for and it's always important to weigh the pros and cons based on your strategy.

Variable rate in the 7% range is my experience.

Timing and Credit Considerations: The debt market is already starting to tighten, and (I do not have data on this) I believe that most multifamily properties are financed with variable debt with a 5-year Weighted average Life (WAL) in the range of 60/40 to 70/30 debt to equity.

@Alice Lei there are a whole lot of variables and a lot more information needed to give you an idea of costs. 

Each of these variables will dramatically change the advice I give the individual asking me this question.

I received a quote back from the bank today: Adjustable Rate program with 20 year amortization and 20% down is 6.25% but the rate goes variable in 15 years. 

It's all math with a variable of how long do you plan on keeping the property and how much are you losing in cash flow monthly.

There are a lot of variables that determine whether or not it would be beneficial for your property.

Did it here a number of years back in NY and it cost me $150 for the walkthrough and the fee is deducted from him if he later draft and file plans and obtain permits, which you are required to do, for you.There's not enough details in your post to give you an opinion, as there are numerous variables.

Winning bids are paying $25k-$50k above asking depending on location and other variables.