stuff you see advertised is typically for owner occupants, and invariably they are doing something to allow them to pay for the pmi on the back end, like bumping your rate or making it an ARM.

These loans have rates comparable to the Non-QM / portfolio loans, however they are shorter terms of 3/1, 5/1, 7/1, & 10/1 Arms or they are 3/3, 5/5, 7/7, 10/10 fixed rates with a balloon payment.

Be wary of any calculations the implicitly or explicitly assume that they are fixed.Also, many of these things vary with the region you invest in, so be wary of estimates adopted from other markets and trying to apply them to your market.

Too riskyAsk people who did arms and interest only five years ago how they are working out for them

Really good things are just not available to the arm chair investor.

Also, I wouldn't explicitly cite this as evidence but, I've seen a lot of "deals" on the MLS that are rehabs that are half done and now the owner is trying to get out. 

Oh and warzone = string of car break ins, recent armed robberies, a murder or two.

.- Inexplicably, the 5/1 ARM is currently priced higher than 30yr fixed (6.6%), and the 15yr fixed is priced right alongside government-backed 30yr loans (FHA/VA) around 5.9%.- Inflation is down from 7-8% to 5% but still way above the 2% target.

I believe the codes don't state this explicitly, rather it's an interpretation.

No, they do NOT offer the same thing if you read further and further, especially CU vs local/national bank.1. their DTI calculation is different from one to another2. their method to calculate rental is different3. their ARM product is also different sometimes.4. their approach to rental is also extremely different from one to another.So how to decipher all those hidden information?