Maybe you have this buried into maintenance.Your cap rate is not correct.  

Different rate environment, but the rent-by-the-room is the quickest way to buy and save toward the second, third, fourth. 

At least check the rate of the 15. 

What's interesting is that the rentals for October were booked at a higher rate than the current nightly rate for July and August.

I am curious if the fees I am being presented are in line with market norms:lender app fee: $10,000Origination fee 1% ($20,000)Lender costs: shows a fixed amount at $10,000processing fee $895registration fee $10,000Title and escrow fees: $4,000 est.6.5% rate fixed at 10 yearsPrepayment Penalty: Yield Maintenance months 1-114 (1% minimum)Third Party ReportsApppraisal Required Engineering Required Environmental N/A Seismic Report N/A Market Study N/A Funded EscrowsReal Estate Taxes Required Prop/Liability Insurance Required Special Assessments N/A Ground Lease N/A Replacement Reserves N/A Required Repairs TBD Debt Service Reserve N/AWould love to hear your thoughts on this as well as what you think is appropriate fees for the freddie mac sbl program. 

Is the pre-payment penalty worth the lower rate you'd get.

Then the lender will borrow you the $200k at a very high rate hoping you fail to make payments. 

My ask is if this is a good financing model then what exit strategies will I have with interest rates being what they currently are and no realization of what they will be in 5-10 years went the loan is due?

I have a home I am wanting to sell that has a great interest rate with a conventional loan. 

While clear communication is important, I wouldn't summarily discount contractors whose first language isn't English.