@John Underwood what would you say was the key factor is making your LTR cashflow so much? 

It depends on a few factors: First, the fires.

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

Keep in mind, though, that each lender has their own criteria for how much future potential they’ll factor in, so it might come down to some skillful negotiation and presenting detailed projections that don’t feel like puffery.Just be careful not to come off as overly speculative…lenders tendd to shy away from what sounds too good to be true.Anyway, I’m curious.. have you spotted any other investors in Gainesville facing a similar refinance puzzle and what kind of terms were they able to secure? 

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

ON THE OTHER SIDE, the liability and cost of fencing it in, as I would need to do, is a huge factor... 

In your situation there is actually another factor that may work in your favor.Only the proceeds allocated to the sale of the building can be used in a 1031exchange. 

ARV is a very important factor here. 600 FICO is minimum. 

The most popular STR listings in my area have excellent interior design.  

With that being said, the interest rate is going to be the single biggest determining factor for whether you're barely breaking even, or seeing a decent monthly cash flow.