We hit the 1% rent to value ratio, have steady population growth and we're incredibly insulated to recession.

We're really hoping that they stayed pretty current on the first lien so that they could keep the property (it's an incredible property, and they renovated it very nicely). 

If it's not the price it is the environment.

She's been incredibly patient trying to help us out, but I feel like I'm abusing the relationship. 

That's of course, assuming the developments have safer long-term debt.MF new development uses short-term financing and will not go to perm until lease up and subsequent stabilization around year 2-3 (in a benign environment).Cash flowing value add real estate with permanent financing is far less risky than new development with short-term financing. 

It was such an incredible deal.

An example of an argument the tenant could make (I don't agree with any of it, but I can imagine something like this):"Landlord created inhospitable environment for my family, when I have paid rent every single month. 

I would like to be in a pretty hands off environment so that I can learn/bring business at my own pace since I will only be doing this part time to start off. 

Second, in the current interest rate environment where rates are historically low, you may particularly benefit from a fixed rate 30 year term, because (a) it increases the likelihood that at some point over the longer loan term higher inflation will return and the dollars you repay with will be materially cheaper than the dollars you borrowed and (b) you are locking in the use of long term capital at a rate below which you may be able to access capital in the future.

But with the neighborhood NOT being as middle to high end, we're worried we'll get some complaints from guests not liking the environment.