For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

They cut out all but the best locations and were way more cautious.

For other concerns, I would and still do advise them to reach out to Investor Relations etc.  

They could work with an existing lender, do some marketing to help broker, get a cut and make FARRRR more $ with zero risk vs this EMD lending. 

This also cuts down on the crazies. 

People’s Republic of Asheville is more concerned with STR regulations than people living in boxes on the streets.

Cut “Bush sticks” yesterday.  

However, a lot of concerns can be mitigated with looking at their past rental behavior in a lot of different settings.

The jury is out on summer, but we are already cutting rates significantly to get bookings for our properties.We are currently trending toward 2019-ish rents for most of our properties. 

Despite rate cuts, we aren't seeing the lending market agree with their expectations on inflation.