The problem is that you'll be swapping out your existing loan at 2.75% with one at 6-7%.

The DSCR thresholds can knock your LTV down as well.  5+ opens loan options for 5/10yr Treasury backed notes, 5/10yr SWAPs backed notes with balloons, vanilla 30yr fixed, ARMs, Interest Only, etc... there are a variety of loan options out there.Then you have unicorns lenders... those that will do no DSCR requirements if your property meets the right conditions. 

If you pick the right finishes and furniture it could be as easy as changing sheets and swapping out towels.

Oh the endless drama's.Immaturity controls your cash flow.Endless swapping of renters--no long termers.ImmaturityImmaturityImmaturityOh did I mention Immaturity(and the Eddie Haskles)I prefer a clean hardworking thrifty renter who will stay long term.Eddie Haskle: https://www.youtube.com/watch?

We just wash them a lot and they are cheap when on sale, 16 bucks for queen and 19 bucks for King so we have a ton of them to swap around.

Mortgage debt over consumer debtBecause mortgage debt is spread out over 30 years, because the interest is tax-deductible in most cases, and because mortgage interest rates are so low, I almost always advise buyers to put less down if they have high consumer debt balances, e.g. credit cards, auto loans, etc.You can easily save hundreds of dollars per month by swapping high rate, short-term consumer debt with lower rate, long-term mortgage debt.4.

They are pretty good quality and lay on rails so they can be swapped out.

Otherwise, the funds would have to hit your personal bank account to swap between STR's. 

People are still actively stealing houses from owners performing deed swaps also.

@Chase Farley hot water heater issues can be so frustrating, and even plumbers often times don't really do much of the math behind sizing these things as they often times just get paid to swap what is existing.