It's super casual and friendly environment. 

Good demand factors for industrial pushing pre-covid into current environment.

They clearly either needed to be compensated for risk, and/or they are being very, very opportunistic, relative to what a competitive lending environment might offer/provide.I just went back and re-read your original post, and now I see how 'hard' hard money is. 

I was looking to take advantage of the current low-interest-rate environment and lower my mortgage rate from 4% to 3.5% on my primary residence.

You will find much more availability of multifamilies in Los Angeles but just make sure to decide where in LA you'd like to live as safety and environment can differ from street to street and community to community rather quickly. 

Since the interest rate environment has changed dramatically over the last 6 months I’m torn with what to do.

@Zachary SchimenzThe problem is property managers don’t really want to deal with this type of environment anymore than you so it’s often difficult to find one in the hood .

One of the things that is unique about this current environment is institutions are in game gobbling up properties at a higher level than ever before.  

However, I think they cared less about the cost/value and did it for the warm fuzzy feeling you get by doing something that is "good" for the environment.

  :) :) :)i suggest you start doing deals and build a network of other experienced investors in your locale environment.