I think it's pretty typical for short term durations, however not as typical for long durations where the seller is becoming your permanent new tenant.Your specific state should have a specific leaseback form, so I'd recommend starting there. 

Hi all. I am working on the feasibility of a joint venture multifamily development. I would like to re-finance into long term debt once the project is finished using a DSCR type loan. Is it possible to get fixed rate ...

I feel like they are both lying to me, and that they do intend to get into the AirBnB business and become permanent competitors for a very limited vacation rental market in this small, seasonal town. 

That lets you offload the part you are not good at, but then you don't have to pay the monthly fee to a permanent manager.

that to me is the permanent way to stop roof issues.Is it a land home package or is the home in a park?

Like you mentioned the remaining credit is applied to the principle if you pay off the loan or refinance (which is likely, since you are probably going to refinance to eliminate the PMI in the next 1-4 years) as opposed to a permanent buydown where you cannot recoup the permanent buydown aka paying points. 

People are cutting the fat, cutting their more challenging properties or deleveraging a bit while they have had a lot of growth in value.

Here's how I've mitigated the cons: I only buy homes attached to land with permanent foundations.  

Discover card offers any military member a permanent 5.9% interest rate for as long as they serve. 

Construction to Permanent How did you add value to the deal?