An STR has to rent for a lot more to be worth it.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

This accelerated debt pay down strategy really helps to increase cash flow without having to own a huge portfolio. 

It would also cost about $5k per unit to furnish it - this isn't that big of a deal but it is worth considering.What would you do?

I recently received a letter from the tax assessor explaining tax assessed value of the property increased to the purchase price I paid for. 

You don't get things worth having without discomfort- so, if you don't have stacks of cash sitting around, I'd suggest you revisit the idea of house hacking, least expensive, least risky, more immediate impact on your finances. 

@Jeff Miller  So the property you inherited is worth $200k and you want to get a $150k loan on it? 

Property was worth $250,000 day 1.

This is relevant because many STRs converted to MTR at the same time resulting in a significant increase in supply. 

Also, if the sponsor is new, I am fine with less skin in the game as long as it is significant to their net worth.