If they cut 1/4 point per meeting rates could come down by 2 points in a year.  

Get into some other facet; money lending, storage units, flips whatever but you my friend are NOT cut-out to be a landlord.

You might wholesale them, or refer them to a wholesaler for a cut of the deal if it closes. 

Begin with smaller places to cut down on risk and learn as you go.Good luck!

One possible large impact would be a minimum setback requirement from the railroad to any development, which could drastically cut the usable land. 

Log cabins get flagged as risky and even if they get done leverage is cut. 

If he is broke, its just a waste of your time, and I would say cut your losses now and consider it a lesson learned.

So in my mind STR is good tool to catch long term appreciation and REDUCE EXPENSE when folk is vacationing.For me it is as the following:if you like snowboarding you would buy in Tahoe or Denver or Aspen.if you like beach you buy in Hawaii, Destin, Panama Beach FL or San Diego.if you like hiking/forest you go to these Servier county,etc.The problem is if you don't have hobby and don't like to go for vacation LOLI cut 90% of my vacation budget by having STR, this is the internal profitability metrics LOLIf my own purpose is to make money I would find investment that yield 30% IRR and >1.5EM and I know it's not that in vacation market in 2023 lol.

I had more than one appraiser comment that the CLV market is a declining market in their reports and when lenders see that they often cut leverage.A lender will ask for your credit, experience, and maybe liquidity. 

My feeling is that the tax evasion thing cuts both ways.