They get a higher return since they are covering housing cost, have the $250k per spouse primary residence deduction in gains, is a savings account, higher leverage position, lower interest rate possible, will pay more premium for location, etc.House might be overpriced for REITs but not for home owners.  

While less than 10% of the mortgage industry offers 40-year mortgages, here's something to factor in: they often come in with a rate increase of 20-35 bps.Assume 35 bps.$300k mortgage at 7.25% (30-year): $2,046$300k mortgage at 7.6% (40-year): $1,996Technically, it lowers the monthly, but not by much once factoring in the rate adjustment.

If you're considering hard money loans, they can provide fast funding, but with higher interest rates and shorter terms.

Wow and I thought I was old school!!

But higher tax rate in PG county. 

For example, two of my goals are to achieve a certain percentage for my IRR (internal rate of return), and a certain % for my cash on cash return. 

For $10K and a lower rate I'd be willing to consider delaying...but only if I knew that lender two was solid on closing in a relatively short timeframe.

Keep in mind a HELOC rate will be much higher because of the CLTV and risk.

This would allow you to maximize tax deductions at ordinary tax rates.

PMs should have the widest network of contractors, knowing the good from the bad, better pricing, insights into rental rates/ condition of rentals to not over develop your unit.