The jury is out on summer, but we are already cutting rates significantly to get bookings for our properties.We are currently trending toward 2019-ish rents for most of our properties. 

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.

Most seller's in a sub-to don't understand the risk they are taking and most lenders have concerns over the overall portfolio quality ratings which has an impact on their cost of funds.

They are more concerned about protecting the hotels. 

I predict that the guys who are fully leveraged and cash flowing $100 per month will be motivated sellers when the next big correction happens.actually its either them or they walk and its their lenders selling that is what happened in that time period.. and was pronounced in certain markets.for me personally  I don't want to risk  my credit and finances and borrow 75k to make 1200 a year... or even 2400 a year if its a market that has a history of no appreciation and I don't feel there is going to be any significant appreciation.. 2 to 3% a year does not cut it.but I will take 500 a month negative or 10k a month negative if I think there are huge gains at the other end.. 

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?  

@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?

@Patrick Pan, if I was operating in a state where that was a concern I would just contact their current landlord for a reference.

It tracks rent payments, expense categories, mortgage interest, and more in one place.I’ve found it really cuts down on prep time.

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.