A DSCR Loan doesn't likely make sense here if you would look to exit the loan in that short a time period

In my opinion, it doesn't sound like a bad deal.10% is more than you would get in treasuries and corporate bonds36 months is not a super long period of time.Seems like you are protected with 1st position.I would just do some background on the company - How long have they been in business, financials on how the company performed for the past 2-3 years, along with some background information on the sponsor/founder of the company.Best of luck.

Except for a two-week period, Ms.

This is definitely an anomalous period. 

Yield assumes that the cashflows are reinvested at the same rate of return and periodicity for the entirety of the life of the asset.

This also makes it harder for you to develop a sudden soft spot and let her talk you into extending.

They have excellent payment history, and their credit can be explained with a history of opening several credit cards and a brief period during covid with a few missed payments.  

I have been getting requests from guests on VRBO for extended stays  - up to 5 months.

Failed listings could mean canceled listings, expired listings, or where there have been no updates to a listing for X period of time and they just move them to failed.Equity could be calculated based on FMV - original mortgage OR FMV - estimated current mortgage amount. 

If you offer renewal 104 days before lease end, they'll have 14 days to consider renewal, and if they don't sign, the 90 day period will coincide with the lease end date.As far as tenancy in perpetuity, I think it's legitimate to wonder why someone should lose their home if they haven't done anything that's incurred an enforcement action.