The US government is also refinancing our debt every year, and we can't take a doubling or tripling of the interest rate.

If your policies and procedures aren’t in place.  

Relationship-Based LendingBanks: Normal transactions are always cold-blooded and policy-oriented.Private Money Lenders: Most often work with borrowers to create solutions and value relationships over strict rules.The Bottom LineThe power of private money lending, I think, is a pretty effective alternative for borrowers who need speed, flexibility, and customized solutions—especially in industries like real estate investing.

Is there any concern that the local government would ever ban short term rentals altogether?

Going to be interesting to see what sort of impact the new Government's mass deportation policy has on rents and construction costs.  

Real estate is VERY slow to react and will take a minimum of a year before we see how the Presidents economic policies affect us.

It is important to note the difference between FHA 1988, and the ADA, Americans with Disabilities act which governs Public Accommodations.

And if they all add up to zero, you’ll earn 0.038% on your money  Or you could put the $125k in the bank and earn a government guaranteed $520/mo.

If you are really worried about liability, get a bunch of insurance policies like an extra umbrella or beefed-up property insurance. 

By-right uses are much simpler since they don’t require additional government approval beyond standard permits.Development Standards: Once zoning is clear, factor in the regulations such as setbacks, parking requirements, density, and other local standards.