They marked X optional for EM.

Best options would be a local hard money or private money lender.

I'll also want to have the option of refinancing if rates drop.

Are there any free options or low cost options that someone knows about.

I’ve talked to a couple mortgage folks and haven’t gotten any great options yet. 

In the meantime I'm looking for some options in terms of creating some financing to scale. 

Might have to rethink this option.Bruce - Thanks for giving me all those options!

So no right or wrong just different options and that takes work so if you want professional help I'd recommend you contact advisors on the forum or go to the BUILD YOUR TEAM tab and do a search for professional financial advice.   

-What are the pros & cons of these options- senior housing vs Airbnbs vs student housing?

You have options!