Are there any strategies here to utilize bank funds for our project?

The inspection and approval process of s8 basically causes s8 applications to be lowest priority processing.  

But here are the basics of each class.Class A Property:This is the “high-rent district”.

Basically they'll come up with reasons as to why the "guarantee" doesn't apply to your situation. 

That's what we do and we basically tell the students that "if we aren't willing to invest, it's not a good deal and you shouldn't do it." 

I very much appreciate the honesty around the current state of the market in the area and I will make sure to adjust our projections accordingly.We are excited to start our journey and looking forward to contributing to the BiggerPockets community.

Nightly rates: Yes, but the benchmarks should also be lower.Year 2 turnaround: What strategies could we implement to project a higher ROI in our second year?

I'm looking to finance the project long term in a way that is helps me create positive cashflow.

Has anyone done such a project before?

It will familiarize you with the basic terminology and benefits.