This one IS zoned for short-term rental.

It explains that tenants under lease will adjust at the end of the lease term.

Our interests are currently more focused on short term rentals, but we are also interested in many other aspects of real estate investing and looking to make a start.

They brought in leases over the budgeted rents and did it just in time for the end of the term.

This situation is such a long one but I will try to keep it short and to the point. 

Your list looks good but as others mentioned it doesn't hurt to think long term and explore refi options as well.

And if veil hasn’t been pierced by now, it likely will be within a short period of time for another reason.

Has anyone had experience with a reverse mortgage short sale where there is an additional junior lien?

Total rents at 100% occupancy across the three are $2900 monthly.I'm thinking because the financing terms are soooo attractive that it may be worth the higher risk that comes with the high PITI?

Sub 2 was not in my vocabulary 3 years ago when I started in Real Estate, now Sub 2 or buying subject to its existing financing is a common term I use daily!