And many hotels don't have 24 hour desks or 24 hour service.I don't get why all these newer regulations expect STRs to operate to standards that aren't even required of hotels with full-time staffs. 

I added a pool and did some landscaping and have been using it as a family winter retreat and renting it to a STR operator the rest of the year.

No lending institution or bank would be permitted to operate with those ratios.

The biggest thing is vetting the operator as they ultimately drive the returns.

The owner is friend of mine, really good dude.

Partnering with an experienced motel operator is a smart idea—it can help bridge the operational knowledge gap and mitigate risks.When evaluating motels, focus on metrics like occupancy rates, average daily rate (ADR), and revenue per available room (RevPAR).

Most lenders will vary how aggressive they will get based on the experience of the operator (you), but I don't know any that will lender to someone who's never done a spec build like you're contemplating.

To clarify, I have been studying real estate for several years, but have been otherwise engaged in operating  other businesses that my wife and I both own, both as CFO and CEO roles.

It would for sure have to be a higher hourly rate than a typical W2 job however as agents are 1099 contractors and there are expenses associated with maintaining our licenses and operating our businesses that usually come out of our commissions.

I operate 14 properties from the same checking account.