Our only debts are a 2.875% mortgage with a balance of $124k only paying $897/month on an appraised value of $325k, daily driver car of $370/month, and use a credit card for monthly expenses, but pay the balance off with every pay check.

I am betting you didn't put this (or the other ones) home on the market to then become the bank for someone who only has a couple thousand down and no credit instead of selling to a verified buyer, right?

I am unconvinced that the new administration will meaningfully address the deficit and US credit will continue to erode gradually, contributing to rising rates.

I am currently looking for a small local bank or credit union that issues lines of credit collateralized with investment property.

So thepointsguy calculator would suggest that you still use the credit card at 2.5%.  

They can choose to leave and you can both sign an agreement to terminate the tenancy, or, you are going to file for eviction and it will probably wreck their credit. 

In the sponsor's history, has the reporting always been on time?

Others want a higher reward so take on more risk, like low credit tenants.

Start with these three key points:Current SituationAssess your current or expected capital and credit within a realistic timeframe.

For your first commercial deal, your best home is probably going to be with a local community bank or credit union.