BUT…So has his aggravation, time commitment, and risk.   

Assuming the total cost is accurate, how are you completing this project with $750K of total committed capital?

somebody need to research that aspect first before commiting to investment.

And any that ask for any kind of commitment fee up front thats a fake lender.. two big national lenders are Kiavi and Lima one these are direct you can start there and they are very transparent with what kind of experince you need and pricing. this is what market pricing will be..

We are now at 100% occupancy in our apartments and our restaurant is committed to a 3 year NNN lease and a $150,000 renovation at their own expense.

But you'll also have a bank attorney fee, your attorney's fee, a commitment fee (sometimes equivalent to anywhere between .25% to 1%, appraisal fee, environmental fee. 

There are plenty of ways around an HOA but they tend to break the rules that you committed to following.

My concern, though, is committing to a long-term stay that could extend into the peak season, potentially limiting our ability to capitalize on higher demand during that period.Has anyone else faced similar challenges with their STR during the slow season?

IME (in my experience), you would charge a fee (say 50-100 basis points) to the banks/investors, often times based on the either the commitments or the outstanding balance of the fund. 

@Hsin-I Hsu  Owning a $2.5M house can be an expensive commitment, not just because of the upfront down payment but also due to the ongoing expenses for repairs, maintenance, and upgrades that inevitably come with homeownership.Renting at $5K a month, especially for a 4-bedroom house in the Bay Area, seems like a solid deal.