So let's see what the net looks like:2421 rent - 242 (prop mgmt) - 2035 (expenses as outlined above) =  (+) 144 / month.So, Nikki proved me wrong - you can find a positive cash flow property with 20% down assuming the rent amount of $2421.As such, this could be a possible play for a new investor who is looking for solely hands off  turnkey. 

It does seem that rates are going down, and at some point like you say we will end up refinancing to a perhaps somewhat larger rate on a 1st position mortgage to consolidate.  

Of the nightly rentals that I’ve found with a wood tub, all reviews are positive. 

Key factors include your experience level, credit score (600+), down payment (10-30%), property appraisal and ARV (65-70% of ARV), project scope and budget, exit strategy, cash reserves, market conditions, and lien position.

The higher % down payment will force the positive cash-flow.

Every single one of those has had a positive equity position once completed and still has positive cash flow if rented instead of sold.

Find a lender willing to be in 2nd position or find family or friends willing to invest in your project---if they have IRAs, they can roll over into a self-directed and invest in your project. 

Adjust rates seasonally and consider offering discounts for longer stays.Guest Communication: Clear and prompt communication is key to positive reviews.

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They may say - "pay off the second position loan in part or in full, or you don't qualify for this refinance."