There is some serious market fragility in lending right now as the secondary market is losing its' appetite for this loan product, and wants loans it views as less risky, in addition to a pull back on loans specifically for STR properties.

The other was a smoker who accidentally set her own sofa on fire. that one has an installed fire suppression system so her's was the only unit damaged and she agreed to reimburse us the damages (over time of course).

You need to go and find some local banks who have an appetite for that type of property in that area.

It's just a matter talking to enough bankers to find the one with the appetite.

Most banks will offer 25% down, rates as of recent 5-5.75% depending on appetite. 20-25 year am schedule.  

You know your risk appetite, you know what the rest of your investment porfolio looks like, you know your own cash flow needs and retirement goals.  

Some investors with more appetite for risk might consider it. 

Pricing varies significantly by region and insurance companies underwriting practices and appetite vary by region.

Perhaps a good starting point would be to determine what your appetite for risk is and work from there.

It was an online auction that got bid up between me and one other investor, so I knew the profit was going to be tighter when I worked out my max bid, but with less inventory and more investor appetite, I knew that a $30-40K profit on a flip in that price range was to be expected.