However, if anyone has recommendations on alternative methods for securing capital like private lenders, please let me know.Also, I'm in the process of learning how to underwrite through online courses, but finding rental comps for MF seems a bit more complicated than single family homes.

Meaning, as long as CC&R's do not restrict STR's, they have to permit/allow STR's if you go through several steps.Yavapai County is not currently requiring anything- as long as no CC&R's restrict, it's fair game.

We located it through simple online searches.

i think your margins might be overly optimistic. 40% flow through on a hotel is pretty high.

I paid for quickbooks property manager over a year ago and never took the time to go through everything and input it.

Keep me posted if you go through with it!

STR has great cash flow How did you find this deal and how did you negotiate it?

Obviously this doesn't make a lot of sense from a cash flow basis but if we were to refinance it later on at a lower rate, after we do some upgrades, that could significantly help us but the reduction in cash flow is concerning.If we take the equity out and truly Brrr it, then we are doing better because we avoid the lower value mortgage but can finance at a higher level after reno.  

He's active in the forum so he might be commenting as well.Finally, I'm not sure that you should worry about dealing with currency fluctuations because you won't have to assuming you're cash flow positive.

As mortgage rates eventually drop, your cash flow should improve over the long term.