But long term, I can’t hope to be a little giddy, always with a skeptical eye toward the horizon, of course.Be cautious out there.

Some a short-term loan can also help you with DSCR loans with fewer regs and guidelines making your loan process much simpler.

What if franchising is part of the strategy, with a long-term goal of acquiring properties as well?

The terms may be more favorable, if you are just starting out a bank maybe nervous to do 3 at once, therefore their perceived risk will likely be reflected in less favorable terms.     

Quote from @Andrew Lawlor: I've been actively investing in short-term rental properties for the past three years, managing one live property and another that will go live in two months.

I can disclose the property address and details if you would like to chat.

Personally, I advocate for a long-term investment strategy and would recommend investing the funds, provided you are comfortable with the expected return on investment over time.

Seller Financing / Sub-To: Take over payments or negotiate terms with sellers to minimize upfront costs.  

If transferring the property to an LLC, be mindful of the due-on-sale clause, and note that an LLC itself does not offer tax savings unless electing S-Corp status, which is rare for rentals.To maximize tax benefits, consider cost segregation, bonus depreciation, and short-term rental (STR) strategies, which could allow you to offset W-2 income if structured properly.

Check out the Short-term and Vacation Rentals forum.