This would/could be my first deal, and though the word "deal" may be a stretch by the numbers, there are a lot of factors that I'd appreciate some feedback sorting through to see if we should go forward.The scenario: Just less than 2years ago, my grandfather died.

Don't get me wrong, you're going to go through a stretch looking for the right guy (or girl) but when you find them, keep them. 

For example, we ran out of money to actually live on as the project stretched out, since we aren't being paid for the renovation.

So, the word was out that previous practices of having good credit was being stretched a bit back then.

Also beware of stretch code requirement.

And that was just to a prospective applicant that wanted to stretch my accepting 1 animal into 2 or 3. 

A recession is almost certainly going to have an impact on the STR market, but I've selected properties that should thrive regardless, and have been careful not to stretch my debt on them so that I can still easily cover myself even if rents do fall a good bit.

This can also depend on the number of bedrooms but again will depend on your specific market.If students sign well ahead of the lease start date in your market this can often stretch out the time between the purchase date and when everything is stabilized with the new higher rent rates after rehab.  

From what I saw, it looks like you stretched 14k twice as far.  

Johnson is always there to be sure I don't stretch myself too thin or do anything stupid.