Guarantee on loan through section 538
Currently I'm looking at a multi unit apartment complex and I only have the ability to put 10% down including the construction loan I would need to take out.. I live in a rural low income area and would possibly be able to apply for a usda rural housing loan guarantee. With this guarantee it would allow me to take a loan out with only putting 10% percent down but would cap my rent prices at a certain level to appeal to low income renters. This however isn't a huge concern for me considering most renters in my town are living in low income apartments. A couple concerns I have is one I would need to hire a property management company per requirement of the guarantee which something I had wanted to manage. Also I couldn't find any insights on my ability to be able to refinance or even get out of the guarantee stipulations in the future. Any one have any insights?