The main hassle of conventional lending is being able to provide proof of income and seasoning.

Hey Steve we put on 2 monthly forums in Scottsdale. 1 for fix/flippers and the other for STR investors, no sales pitches or courses just a market update and networking with other professionals and service providers!

Some mortgages also don't allow a second lien on the property, so how do you provide the seller with assurance?

Quote from @John Morgan: I’d do individual cash out refis on them to scale up.

I recently looked at an existing STR, but either the seller did not track the expenses or they did not want to provide them. 

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

There are mortgage recast calculators online or you can reach out to your lender.P+I payment will go from 2155 to ~1800 given the numbers you provided.

So multiple eyes and local expert providing local cost and input on lifespan.Here is an example that has a part that is more expensive in my market than other markets (unlike most parts that are the same everywhere, so in this case your cost should be significantly less due to both cheaper part and cheaper labor): $1600 40 gal water heater installed (this is good price for a plumber, a little high for a handyman) with expected life of 12 years (i have some that go 20 years and some that die in less that 10 years (mostly rheem die in less than 10 years), 12 years is fair life expectation

These I have found are real, striving parents, working their butts off to provide the best housing and school system for their children.My ethos in this approach is exactly why we at LaPlante refer to them as Residents, as we consider "Tenant and Landlord" to be dated terms and rife with negative emotion.

STR insurance provides broader coverage, including liability, property damage (even non-guest-related), and gaps Aircover might not cover.For damages caused by guests, document everything (photos, receipts, estimates) and file a claim through Airbnb.