Because we both work short term contracts, we cant show employment by one company for the last two years like all conventional lenders require.

Most lenders offering non-recourse loans to an IRA borrower will require significant cash reserves in the IRA for this very reason.Since you cannot add funds personally, the IRA may need to bring on a joint-venture partner or take a loan from someone who is not a disqualified party to cover a short term cash crisis as you describe.

You will need to account for the vacancy (1/12 month 8.33%), repairs (these are short-term items and it sounds like you have already done some of the work yourself - assume 5% of rental rate $130), property management (assume 10% $260), cap x (assume 5% - $130). 

@Emily Griffith - Hey- we specialize in the short-term rental niche (Airbnb) here in Colorado... and also do videos for BiggerPockets on the same subject.

The Ybor City area located just outside of downtown is developing area which brings tourist, cruiseline guest, music groups and artist nationwide.

I had a 2%+ rule a short drive away, in the next town.

They are great for short term debt that you will pay back quickly.If there isn't a solid plan to pay it back quickly, cash out refi usually makes the most sense. 

Short and sweet. 

Your would-be short capital gains tax just moved into long capital gains tax and you'll be able to keep more profit.

Most banks would be more concerned with your net worth (personal balance sheet) to see that you have equity to cover any short comings should they have to foreclose.