Maybe a  good idea to have a reputed and vetted attorney to draft and execute it.Partnerships can sometimes have misunderstandings even among close friends

Did you execute contracts with each contractor with appropriate indemnification language and warranties?

An STR hot tub is a completely different beast. 1) Hotels and fitness centers have staff that are checking chemicals twice a day to ensure the appropriate balance is being addressed, STRs do not have that luxury.2) You can educate your guests all you want.  

Collateral is first and foremost, but the borrowers ability to execute the business plan within the term of the loan is next most important. 

We may have not built that perfect version yet, but it's only through our execution and learning experiences like these that allow us to get one step closer.

Going to guess your PMC vetting didn't include asking questions about HOW they would execute their services.Below is part of a standard copy & paste advice for those looking for a PMC.

For the tenant to be able to move in you need to -Go back and forth and fill out HAP contract and get it approved by CMHA -Get the property inspected and pass(if you fail redo this step)-execute the leases then the tenant can move in * Important note (you won't start receiving payments from CMHA till like a month or 2 later after you execute the lease.

Is it usually solo business professionals ( travel nurses, corporate executives, etc) that rent midterm. 

I have a client who is selling her executive townhouse for $349900.

It's a full-blown business with staff.