I feel like the closer to the city the better investment as long as it's within a reasonable price and safe. 

For that reason 3 bedroom homes are my last choice. 

His reasons were: a) he can borrow capital improvement budget, thereby not diluting LP returns and b) he could not underwrite yield maintenance.He continued to imply that his business model will remain short term holds (under 5 years) so this debt works for him and is better than fixed rate.My question to this community: would you still be willing to invest with an operator taking out floating rate debt in today's world?

But I guess I just need to actually speak with someone from them as well, I will def try that out thanks.

Apparently the listing agent didn't think it was something us, as the buyers, should've known for whatever reason. 

Have you discussed the reason he is planning on exiting stage left? 

If you need more info feel free to reach out I can explain in detail based on your actual scenario.  

I'm actually about to replace the front door on my apartment building and was probably going to go with Fiberglass. 

If it's a primary, as long as you are actually moving into it, you can get conventional programs as long as you qualify.

I have often thought of doing the same thing but I have a 2.9% IR on my duplex which is so low that I don't see much of a reason to pay that one off quickly.