I started working on my speed and defense.

Talking to your aunt about LIBOR rate adjustments

You could even approach it with a deal-by-deal plan that way you can make adjustments as you each learn more and you're not stuck with a set of rules that doesn't work as you grow as investors.

I'm always adjusting my strategies, changing markets, etc...but, this time, I'm carrying an umbrella...just in case. 

Chances are carrot sites are always ranking high.What they have going under the hood.. all the technical hosting site speed and all that weird stuff... they got that dialed in. 

Another lender suggested a 5 year adjustable at 7% and refinance when the rates are lower - what if the rates aren't lower in 5 years?

Vacancy control prohibits rental housing providers from adjusting rents to market rates when a tenant moves out.

Here are a couple of suggestions to speed things up:1. 

Stay informed about market trends, property management best practices, and adjust your strategies as needed.

So, even if the properties declined 10-15% further, arm gets adjusted, the increase in mortgage payment per month should not be significant (I believe interest rate will stay low for a while.)