It’s worth exploring if you're looking for more flexibility!

It seems to always be flexible and at discretion of their investors they are looking to take on. - Do sponsors/developers generally just look for GPs or preferred investors?

Most of the regs prohibit it within the city, so I would check and see if the area you are looking allow it.Your best bet is to look at the markets on VRBO and AirBNB and see what is out there right now.

On the other hand, non-local lenders may offer more competitive terms or flexibility since they're not tied to specific regional trends.

For you, it might come down to how much you value in-person relationships versus getting a higher yield and the flexibility of online platforms.

These agreements can last for up to 80 years, and you can transfer or sell the lease, offering flexibility.

I am betting that there aren't that many STRs that offer a setup like that in your area. 

We opted for option 3 for the safest bet in a stagnating market and tight funds.

This type of loan can have flexible terms and few upfront costs.However, a private money loan is a high-risk financing option because it’s unregulated.

When the property is owned "Free & Clear" There is a lot of flexibility when the property is free and clear.