Skip the vacations, skip eating out with friends.  

Quote from @Joanna Mendoza: Asking for a friend.

For me, I would, put together a prospectus for the STR and approach my friends and family to see if they would be interested in a partnership on it.

@Ian Miller, there is a reason almost everyone starts with people they know: friends, family, coworkers.  

I am clueless when it comes to the economic development board, but I do know that Waco in general is extremely business friendly and has very little regulations compared to other Texas cities.

You don't want to decide how the end user will use it so you have your price for the real estate and land, and the rest is negotiable.

I have spoken with some real estate friends and they have told me about how private money has helped their business grow massively.

Quote from @Stan Sudarso: Quote from @Doug Smith: I had good friends/business contacts that worked there...all have fled to greener pastures.

I have a good friend in Stevensville Montana who does this nationwide. 

Anyone  with user reviews on any of these?