@Timothy Frazier  This will be tough as the HML will want a 1st position loan, but so will the other lender providing the rest of the funds. 

A free seminar, a low cost workshop, and an expensive mentorship program4.

I FUND CITIES2.

If you want to play a passive role, a real estate syndication or debt fund could be a great way to go.

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.

@Steve EnglehartGet your retirement funds into a self directed IRA.

I singles out 3 routes, and due to funds limitations I can take only 1.1.

They are a commodity, and owners are competing directly against hotels in this space, so rents are ultra low.

Most people I know start with low money down programs so they can get away with a initial capital investment of around $25k but you also need reserves.  

If you are very conservative purchase a fixer upper so you can force equity and hopefully have a low enough payment so that you can LTR the property or even sell for profit should the STR avenue not work.