I'm still waiting and have yet to get even an estimate of when I can expect the return of these funds.

What do you estimate rent at? 

The new released estimated total of the effected areas is now in excess of $250 Billion.

The best way to estimate expenses is experience and knowledge of your specific asset type and market.For vacancy, that will depend on your market and the quality/desirability of your type of unit.

I’m seeking guidance on how best to approach this situation and would appreciate your thoughts on what you would do if you were in my shoes.Here are the details: My current home loan is $242,000, and the property is estimated to be worth approximately $420,000 (± $5,000).

You can use Airdna & other STR estimator tools to get data on potential income/vacancy based on your location and property size. 

If it would help to get a more detailed estimate feel free to reach out.Documentation is rather limited, just ID, bank statement, LLC documents to start.Sometimes there are interest-only options at 30 and 40 years, generally the difference in payment fully amortized over I/O is minimal so it may not be worth it.

I only have 1 month of proof of concept so I need at minimum 3 months to get a better estimation. 

Are there any good resources online to be able to get an idea of average monthly/yearly expenses like utilities, etc. for a given zip or city?

In 8 years and over 20k reservations we have had 15-20 incidents I would estimate.