If you're a business financial newbie vs. an experienced financial decision maker, the answer to your question will vary.  

Ft)For ARV, it is best to have an experienced real estate agent find comps for you to determine a safe number to work off of. 

An experienced private money lender will want to see a track record.

I handle dispositions and tech; my business partner is more experienced with exit strategies and the finer points of investment.Hope this helps!

Quote from @Chris Magistrado: Quote from @Jonathan Greene: I like the way you are thinking, but it's a little apple before the cart although you seem to get that you need experienced partners to make this work.

Jeff - Sorry to hear you are experiencing delays in lease up. 

I know it defies logic, but many things in life defy logic and the evidence I've experienced follows suit. 

Especially looking to hear from anyone experienced with STRs in San Antonio.Thanks in advance!

Would love to connect with any experienced investors/agents.

There are some very aggressive investors that refi into interest only products to free up even more cash in the short term - this can be much more risky though, so not recommended if you are not very experienced and have large reserves.