Anyone have experience with this course?

Can you imagine actually communicating with your borrower?

First I would make sure where you are building allows STRs with no or few restrictions.

Thank you for sharing your experience with the property management transition.

Find a good lending partner that is comfortable with lower property values both on the purchase, as well as knowing a group or two that can financing projects under 100k on a 30 year fixed.

You might go by the Dallas HA office and see if you can speak with someone to see how they determine rents or see if they still have their landlord seminar. 

It's impressive that you were able to find this deal with very little capital.

., with roots in Southern California.  

I agree with @Aaron Zimmerman—setting up your chart of accounts to align with Schedule E/1040 or 1065, depending on your type of entity, will again take some of the heavy lifting come tax time.

However, you could buy a property with seller financing.