Don't use your emergency fund. 

I'm trying to raise funds from my family and I am being asked to produce pro-forma scenarios at 2, 5, and 10 years which should include IRR and ROI.

I would recommend talking to many lenders/brokers to see which one has the most experience funding these loan types. 

@Damini Dutta I would definitely put some time and effort into finding out more about this company. 

Quote from @Dawn Harris: We have a STR managed by a property management company.

Regardless of whether the owner turns a profit, brokers are called up on to sell, lease and manage, lenders will finance, contractors (often affiliated with PM companies will be called upon to put out the constant fires).

My wife and I started managing more properties for others as word of mouth recommendations started and we started to use the management and arbitrage cash flow to acquire our own properties and fund the BRRRs we were working on.  

I could get the same or higher overall ROI by putting my money in an index fund which is 100% passive.Deal #2This seems like a good deal to me at the asking price.

With insurance companies canceling policies and raising rates has anyone uncovered a way to self insure rental properties?  

Foundation issues are not end all be all, there are some great foundation repair companies.