So, if you borrow $100,000 now and your P and I payment is $500 (the cost of say, 72 fast food meals), as you're paying the money back, the value of the dollar decreases.

I'm just trying to make the best decision costs for me and also the tenant but decrease my expenses to increase the NOI. 

Basically sales prices are going up while inventory is increasing and rent is decreasing.  

You may make less money this way, but you could likely avoid hard money all together and substantially decrease your risk.

In our major cities centers, productivity soars, and crime has decreased.

So if you are planning to sell it in 10 years, you'll want to make sure there are at least 40 years (or more to give your self a cushion for unforeseeable situations) left on the lease when you purchase.I have seen some people invest in LH condos with less than 30 years left, but they would have to make enough on cash flow to recoup their investment plus more, since there will be no equity in the property when the lease expires. 

I live in CT where some large employers are moving out and the population is decreasing.

I'm fairly familiar with typical strategies that make offers more competitive, aside from increasing the offer amount (increased earnest money, decreased inspection time, fewer contingencies, etc.). 

What is causing the rent decreases as well?

In addition interests rates have risen substantially and it may be worth selling before it decreases property values.