With the commercial loan, the lender also mentioned that after 5 years, the loan would be renewed but would adjust to the interest rates at that time.We want to start with a "win."

Let them know however some property rules will change and give them a timeline for adjustment.

If you feel that the damage is less than the full amount, adjust accordingly.

The tailor the purchase to your needs is a good sentiment, I just might adjust the words on it, like We can make this easy for you.

It can also be an adjustable rate that my stay fixed for 5 years, 7 years and then adjusts after that. 

Thank you for the advice, i will do my best to adjust as best as possible.

I'd like to know if what I'm doing with a local bank to finance the purchase is about par for the course with a portfolio lender.The bank has offered a rent of WSJ Prime +1% that is re-adjusted every six months. 20% down with a 5 year balloon on a 20 year amortization schedule.  

There isn’t enough post-pandemic data to make a true quantitative adjustment.

In my area I get on Zillow and look what the competition is charging based on area, size, and amenities and adjust from there. 

Thanks for the feedback I'll definitely adjust the closing costs.