GREAT Topic,Make sure you know exactly what you want done on this home @ New floor coverings, new kitchen, counter tops, new lights, new bathroom fixtures.New paint , @ tone paint, etc, etc,Because  you holding on to it as a rental make sure you get at least 10 year materials and product, namely floors and plumbing faucets.  

He's been sending me Visio products and they seem legit. 

I’d love to hear more from a lender, but depending on your timeline and where rates go - you would likely be better off just refinancing it into a primary residence product once you move to Colorado anyway.

But if you find developers who still sell their product to the public it's certainly worth looking into. 

We expect STR rent between $12k to $15k per month.The finished product will be an open layout, 5 BR, 2.75 bathroom home with beautiful, rehabbed pool, and with a deck with a view. 

It's also going to 100% be a commercial loan product and just as the post above mentioned you should be going local with this type of a product.  

The difference between this type of lender/loan product and a bank will be in process, underwriting requirements, rates, and fees -- so basically everything except that you'll be able to get a 30 year fixed.

Your intent was to hold the lot for productive use with a rental on it. 

Products - and your rental is a product - are priced based on all kinds of factors, including scarcity, business objectives, long-term strategies, etc.

@Eric TilsonDepends mostly on the loan products.