The pro forma statements are based on the income and expenses of comparable homes currently being short term rented.4) HOA fees do vary from $500+ per month to zero. 

Look at what your competition is doing and price comparably.

I've looked in Southern Maine and regionally and yes our prices are depressed comparatively but it still might not be a "deal."

The house is not in my ideal neighborhood but with the initial numbers it would be worth buying.So more important question is if I want to deal with "average deal" house in this neghborhood compared to "great deal" house as it initially was.I guess I have some thinking to do too. :-)

Interest rates would be comparable to a primary residence mortgage.You can find some smaller or regional banks that would lend to an LLC but I’ve found the interest rates to be at least 1.0% higher than conventional.

I think you'll find that lenders can be dramatically different from one another, especially when comparing national banks to local banks and credit unions.I would say visit a couple more banks, be forthcoming with your situation, and see what they say.

I compared the rent to other townhouses in the area, there are some going from $800-1200. yes, the house did build equity.

But it really comes down to the comparable in each market.  

If you are trying to compare various methods of passive REI, I wrote an article on BP awhile back that takes a look at Three Key Routes for Passive Real Estate Investing

We will pay a $3,500 upfront fee to get started with F&G which is cheap compared to the 10% fee that MCC would charge on the total amount of business credit that they obtained for you.