I am looking into my STR options but from what I have learned this is a overflowing market in the area and the vacancy's are increasing so I may look into mid term and long term only.

I have seen individuals take a lien in the secondary position to decrease that downpayment, but you would most likely need to use a good lender who would be comfortable with and allow a secondary.   

What really matters is how long you think you will have this loan. 

Good call out @Aaron Zimmerman!  

I agree with the other contributor that it’s better to own a $1M asset that appreciates 3% per year that pays no cash flow (over the long term) rather than a $100k asset that appreciates 3% and pays $300 a month in cash flow.

The idea is to expect a negative cash flow, however bank on the growth to achieve a good return.

But our NOI is very good right now so....and our zoning is for multi. 

They should ONLY include properties of the same size (sq ftg), and within a short distance form this property.Lastly, your profit comes after you recover your cash you put in. 

Lots of really good seafood and live music. 

If so, just make sure the fee does not exceed what a given unit might consume if they are good on their water usage.