Why spend thousands of dollars in points to get the rate down to 6.1%, if the normal interest rate is 6.1% in a year and you can buy it down to 5% or 4%, etc.Nobody knows how low rates will go, but with the fed signaling that they will likely begin rate cuts in Sept, it's certainly a good sign. 

We're in the middle of low season with an average booking window of 30 days so I'm not expecting a lot of tangible performance improvements until early September.Re: Revenue management, is there anything I'm missing to improve this area? 

You are tying to separate them but keep them together where it benefits you (premium cost saving).

We frequently hear investors chasing properties that meet the "1% rule" which in my opinion is a  flawed underwriting practice (have posted on that very subject a few times in these forums), but in order to achieve a 14% cap rate your Gross Operating Income must nearly meet 2% of the assets cost assuming your operating expense ratio is at 35% (which is very lean on operating expenses).

(For SF rentals, the odds are surprisingly low if you are managing your business properly.)

It has good returns, low barrier to entry, good landlord laws and low taxes.

Make sure, if you can, that the total project cost is south of 70% of the ARV. 

Do you know of anyone who would be willing to partner with you on this deal to assist with the closing and holding costs?

Are you looking for high risk or low risk?

Consider the additional costs for cleaning and maintenance with Airbnb.