What should the market rates be before I consider refinancing out this loan? 

I recommend building your "core 4" (Real Estate Agent, Property Manager, Contractor, Lender) in your target market.

Running a business like that takes marketing efforts, networking, direct booking functionality, and so much more.

Best way to do it is to have a simultaneous closing...look for an investor friendly title company and a hard money lender that is used often in your market and explain what you would like to do and ask them to help you accomplish it...Everyone likes to feel like an expert, they would happy to show you how it is done.

What do you think stagnant $/sf values alongside rising rental rates & absorption mean for the health of the market?

What market study have they done to confirm the net returns of 10-15%2.

So will more inventory hit the market in 2025, probably, but the key is, is it quality STR inventory hitting the market. 

Capital Markets Commentary– September 10, 2024Good Morning!

There are better more experienced operators out there... don't be swayed by the Brandon Turner marketing machine like I was.

When I ran that same property in BP (preforeclosure) it gave me an EMV of $71,003 but, also on BP, in the 'Find Deals' tab, it gave an off-market value of $116,660 and on Zillow it is zestimated at $93,600.