ARMS are the norm, with 20 year am.i can provide contact numbers if you wish 

Remember our grandparents generation were buying in the double digit interest rate market. 

@DaMare-A Smith I'd be glad to share some stories and help you brainstorm, check out my profile on bigger pockets and you can contact me directly through BP or via my digital business card! 

It simply needs to be an arms length situation. 

However, he broke his arm during the move and has to get surgery. 

“May Light always surround you;Hope kindle and rebound you.May your Hurts turn to Healing;Your Heart embrace Feeling.May Wounds become Wisdom;Every Kindness a Prism.May Laughter infect you;Your Passion resurrect you.May Goodness inspireyour Deepest Desires.Through all that you Reach For,May your arms Never Tire.”Demetrius L.

I would be looking to handle the property management arm of the operations. 

The options one local bank is giving me is 2.87 for 10 years fixed then goes to 6 year arm. 20% down owner occupied.

They typically are yes - you would likely be looking at a step-down PPP so for instance on a 5/1 ARM loan it would be 3%-2%-1% in the first 3 years and then the remaining 27 years will not have penalty. 

For example, San Antonio or Phoenix have had astronomic rent growth(think 20% +) in last few years, but projected rent growth in 2022 is still in the double digits even with rate increases.