Would really like to go conventional as a DSCR with no PPP has a much higher interest rate.

They only listed 2 guests to get the cheaper rate.

Quote from @Sebastian Geiman: Hey everyone,I'm currently exploring note loan investments and looking to take a deeper dive into simulating different scenarios with variables like origination fees, interest rates, and exit fees.

A D&B rating?

What would lead you to believe that a 50% premium could be charged over normal long term rental rates, just for a furnished property?

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

Ditto to all of the above.  85% is very doable with a strong credit score, strong dscr, but yes, the rate is going to be higher because of the higher leverage.

Too bad you need to eat the high conversion rate now.

I was just quoted 8% on my heloc, if that helps you at all with getting an idea on interest rates.  

The most reliable way is look at other STR's in the area and see what their nightly rates look like over the year and look at their occupancy rates.