I mean it’s a subjective decision. It’s only an extra ~$2500 you’re paying each year, but for most investors the odds that they wouldn’t refi or sell a recently acquired value add park within 5 years is fairly small.
If you’re planning on both holding this park long term, and not buying future parks, the 7 year is a slam dunk.
If you’re looking at purchasing more parks down the road though, after you finish 4 years of renovations the property value will have increased and you’ll be significantly under leveraged, making it likely you’ll want to refi.
Also obviously if you’re thinking of selling after finishing the value add the 7 year won’t bring you much extra value.
Just my two cents, and not worth much beyond that.