So this is creating more competition and more agreesive rent rates and/or concessions like 1 month free to get those vacancies filled.

Comes with a known rate, a known term, a known payment. 

You should be able to get up to 80% LTV on a rate term refinance.

Check their occupancy, nightly rate and amenities.

As Vince said it is a quick guideline and won't work in most places with current interest rates and house prices. 

I expressed my objection to the rate.

I do not have the capital for the property to pitch in, so I plan to use the investors money to secure the property.The interest rate that I will pay the investor is 5% for up to a duration of 20 years.

If rates improve slightly, a cash-out refinance could lower your mortgage rate, but ensure the numbers work with your long-term goals.One thing to consider is your return on equity (ROE).

I think it could be due to niche cabins still having a strong nightly rate but I’m a total noob. 

Hard money loans can be an option, but they often come with high-interest rates and short repayment terms.