I wait but that may change dependent on sceneries and or variables

There are too many variables regarding a $200K investment here.

(they are commercial, so they expect the business owner to have other insurances, since the size of the business may be variable).None of them offers umbrella.They both are supported by big fat public companies and we can trust them for stealing our money but hopefully they'll be there when we need them (humor).CBIZ has a straight forward policy, easy to read and understand.

The interest only is variable at 4%.

If all other variables remain equal (cost to purchase a property, tax, insurance, etc...) as interest rates continue to rise, profit margins for new purchases should continue to shrink.

If so, I would suggest contacting local credit unions, as they typically offer low variable rates.  

So many variables and strategies, but what I'm trying to do in DFW (similar market to Houston), is buy low enough to get a minimum of 2.5% in monthly rent.

They said it was a variable rate, and when I wish to use the line, I call customer service and tell them to lock me in.

I am fine with productive discourse but when it is arguments from theory, 2nd/3rd hand knowledge it's just.... well it's a waste of my time to be honest, I can not help someone with their perception of instruction on something they have never experienced, especially something as variable and "wild west" as terms deals, as I have said the whole segment of the terms.... dream it up and that could be it the only rules are both parties agree, can legally enter a contract and equitable exchange of goods, services or consideration (contract'ese for currency). 

Plus, you have a highly variable top line, so you can swing from operating at a profit to operating at a loss within minutes.