To really give you good feedback on this, we’d need to know more about your goals and your current financial situation.

But when there are issues, not being local can make managing situations much more difficult than if you were local.  

.- If you're going after a seller finance deal I think once you understand what it will take to get to a finished state its simply a matter of aligning your needs as far as short term cashflow with the current rents/situation, with the net number the seller needs after the refinance.  

The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.Has anyone dealt with a similar situation?

In this situation, is it better to get a property through regular means, look what is on the market (through realestate agent), or maybe go through a sheriff sale?

Your situation is a little more complex than most people and I highly suggest you consult an attorney. 

Hi Daniel,Refinancing out of a high-interest bridge loan can be challenging, but you have a few potential options based on your equity, tenant situation, and FICO score. 

I am just surprised it seems Hospitable is the only PMS that has dived into taking on this specific situation.

In that case, you’d typically need to file a legal challenge, which could involve going to court and showing that the restriction is unnecessary or unreasonable.The best advice I can give would be to consult a real estate attorney to understand your specific situation and options.

I'd recommend a HELOC for your situation, especially since there is already good equity in the project.