FWIW  I'm not advocating for either.

You are building a plan on paper and paper can burn or blow away.

Success usually is a combination in varying amounts of hard work, good decisions, and a some luck.When arbitrage comes up on here, as it often does, I am usually "gloom and doom" playing devils advocate because the OP is usually on an emotional high from watching a YouTube video about making 6 figures overnight doing arbitrage.I started my business in 2016 with a high end arbitrage, then began acquiring my own, and lastly into management. 

Just because I benefited greatly does not imply that I advocated for any of these laws (I did not). 

When i ask my property manager about it the response is that i must talk to rates department. rates department blows smoke and tells you they cant control airbnbBut wait there's more! 

But just generically speaking, STR returns are almost almost always going to blow the LTR returns out of the water for lakefront cabins in Minnesota.For financing, the two options that come to mind would be a 10% down second/vacation home loan, or a DSCR loan at 20%+ down. 

Understood that DIYing something that I don't do and saving $7 per month (that I'm charging the buyer for anyways) could blow up in my face if there are unforseen results in this process.   

You better hope they don't blow through the property liability coverage.

Nah,  we wouldn’t be interested in playing the primary residence shell game.I like the “be the bank” idea and we have done that with other properties in the past but it always blows up over time.  

I know 1M seems like a whole lot of money, but you can blow through 1M pretty fast.