Then you refinance and repeat.There is a higher risk in doing it, because you never fully know the final cost of a rehab.

I had thought about looking into STR around me, but I'm a little risk adverse so I haven't pursued anything yet.

I'd also be interested to connect with investors who have units (SFR, Condos, Apts, etc) near the strip or otherwise that have gone the AirBnB route, and how feasible a motto this is.Are the prices in Vegas still good enough to provide good ROI and risk vs reward? 

Commercial lending can be scary and it has its risks.

While these carry a higher risk you also get higher returns.

How comfortable are you with risk?

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

Doing so limits a little bit of risk with dealing with market cycles of students and opens up the property for more potential renters.      

I am brand new to real estate so I am looking for a lower risk option that could give me some experience. 

Why take the risk?