Game changer.

It establishes a base that's $40 lower, which all future rent increases are based on. 

My strategy is the long game, buy and hold, build equity and cash flow down the road.

This isn't analyzing deals, this is just playing a video game.

A good one will also have skin in the game and will even be able to bring new acquisitions to your attention.

Additionally, filing establishes a record of your business activities, which can be beneficial for future deductions or tax compliance.This post does not create a CPA-Client relationship.

A terms sheet will tell a pro whether you know what you're talking about and give them a structure of the deal you propose, but it won't establish credibility with respect to your financial ability to pull off the deal.

I am a LTR owner, getting ready to move into the STR game.

The collateral is so so and some have preferences such as certain asset classes they will invest in, but generally speaking, you can obtain an equity deal with very little skin in the game. 

Many sellers will not accept this since they are in second position, and it is very risky since if you default (higher probability for investors with no money and/or no skin in the game), they will most likely be wiped out during a foreclosure.