Points I can roll into the cost and don't mind a buy down if necessary.My primary concern is the bleed rate monthly for the build, Airbnb stabilization and the year after while we season it and prep for final financing for long term hold.

A concern is whether your an accredited investor or not?

So far, I've rated Evergreen and FCI lowest based on a number of reviews on different platforms that have consistent negative reviews mentioning certain specific issues that I find concerning (this is after accounting for the inevitable disgruntled customer/borrower who gets unjustifiably upset).Are you able to share any of your information?  

I have financed a number of STR properties and they will usually be appraised as a pure real estate as vacant value and a cash flow adjusted commercial value, sometime separated as going concern and real property.  

@Preethi S. understand your concerns about PMCs defending themselves and throwing owners under the bus.But... how is it okay for you to NOT share all the context, yet throw the PMC under the bus, and by extension all PMCs?

Both of these are legitimate concerns.

Does anyone have any experience with doing a 1035 exchange between permanent insurance policies/companies?

One concern that I have is that I need to be able to sustain this during a downturn.

I'm definitely still looking at it, but one concern is the population growth, it seems to be decreasing slightly? 

Buy, even if you don't plan on staying in that 1st house in Cleveland permanently you can just use an FHA loan live there for a year and turn it into a rental afterwards.