You have to originate every 5 yrs, full appraisal and underwriting.

I have an HEL on my primary residence right now at 3.5% / 10 yrs at $100k.

My 11 properties average a ROI of 14% not counting the fact that I will own them free and clear in 15 yrs.

If you just mean on this side of the street vs that side... and your planning to keep the property for 30 yrs it matters very little. 

Ask a realtor to pull owners 25+ yrs ownership in your area via mls and export to csv and send to you.

Now he has a 'mgt office' at his self storage complex, but when we had lunch last week he was off to show a unit. 93 yrs old! 

It’s definitely a long term hold but a reservation of mine is, in ~2 yrs will the rent cover the mortgage payment and cash flow.

This will help in your case when the 23 Yrs. comes up and the property will/can be deeded to the Trustee of the Land Trust.

Most commercial lender will offer 5-7 yr ARM or balloon, and might look for a few yrs of experience from the investor.While residential portfolio loans can give you 30 yr fixed and don't need experience.

So if the property is valued at 1.5 do you think it's fair for me to be paying 40% of apparent appraisal instead of 40% of the original loan he took out a few yrs back.