I recently opened a HELOC and I recall it's at prime for the first year (7.5% currently), and I only paid minimal closing costs.PML or HML I would expect rates >10%, plus points, possible prepayment penalties etc.

Quote from @Glen Wiley: I am not a big fan of those rules - I think they are too simplistic.What will your interest rate be?

Doing so also helps create some level of USP to a sea of growing inventory across platforms like Airbnb.With their introduction to paid advertising it’s going to be interesting to see how their algorithms change from a ratings perspective. 

Interest rates are not coming down anytime soon.  

The experience was really bad as I was getting 1-2 year old leads to cold call that I knew had a 0% success rate and I do much better generating leads organically on my own.

For those who are charging higher nightly rates, where would you say your rates are vs comps to try to weed out the trouble guests?  

Do you believe mortgage rate will start to decrease?

What is occupancy and rate and how does that compare to your competition? 

Section 8, student rental, market rate?

The initial plan is a 1200 sf build out with plans to expand back away from the cliff later as finances and interest rates are more favorable.