We provided that and he was happy to get on board with those strategies.

It depends on your local laws, but any paperwork you can provide the tenant to indicate that they need to respond might help.

I have a bank willing to lend on the deal but will need to provide equity and cash reserves of $1.2M.I've raised capital prior, but not this amount. 

However, they provide the leads and claim agents get an average of four sales a year.

Ask as many questions, try to provide whatever value you think you can bring and eventually take the first step forward! 

It's a game of hot potato.Short-term rental valuation is a function of = Interest Rate, Replacement Cost, Cash Flow, Appreciation, and some others like Insurance/Easy of Operating/Taxes.  

If so, a best course of action would be refinancing those into lower-rate perm debt which should lower monthly payments and maybe provide some cash-out - that would be the cleanest/most conservative way to build up some more capital

Real estate is a up and down game over the years, to let the already appreciated unit to so quickly would not be vise. 

Sometimes the sellers may or may not have that readily available or may only provide it for those under contract since usually there is paperwork around that that requires certain investment docs to be provided. 

What would your strategy be, using only the finances provided above.