When evaluating potential properties, consider three exit strategies: if you can sell quickly for a profit, hold it as a rental, or take a loss.

Exit strategies are typically, refinance into a long term loan and hold or sell it for profit.Cheers!

;)Let me use a different example, and I will stop repeating myself after that.

If you would like to hold the property for longer, that is fine as well, just note that your loan payment will be done after 20 years.

But make sure you make a file labeled "why I intended to hold this and what changed".

I prefer buy and hold.

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

I’ll admit the fear of failure and unknown holds me back regardless of goes many articles or reports I read or deals I look at.during this search hundreds and hundreds of ads come through for training/mentorship style groups.

Finally, as an aspiring/budding lender, I don't have as much access to mentors, but then again it's easier than rehabbing/flipping and probably easier than buying and holding and managing multifamily.