I can help you review what are the average nightly rates in that location in comparable properties so you can have real numbers of your neighbors, not sure if you are familiar with AIRDNA, I have the paid version for Tulum, and I would be happy to share the info with you so you can make the best choice. 

Doubt this is the final version as the "smart" people in the city understand Detroit is coming back and needs to keep welcoming investment instead of putting up roadbloacks:)As many STR landlords have learned in other cities and in oversatuarated areas, it's always good to have a backup plan!

For those keeping score that’s a hit of about $19B.

Hard Money Loans: These are short-term loans from private lenders based on the property's value rather than your credit score.

I have not seen any "main stream" versions of this just back country engineering but it's a solid concept and works well. 

But there are options out there.Finally, rate will largely depend on credit score, LTV, DSCR score, AND most importantly PPP.

.$229.99 Insignia 55" F30 4k Fire TV - https://www.bestbuy.com/site/insignia-55-class-f30-series-le...We have the 65" Roku version of this.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Banks often have very rigid requirements, such as high credit scores and a detailed financial history as well as lots of paperwork.Private Money Lenders: Faster and more flexible.

I do background checks on my tenants and only rent to people with 3x the income and credit scores over 700.