As AirBNB and VRBO introduce policies that have the effect of limiting the STR owners profitability, the long eatables operating properties are going more and more to off app rentals most of which is based on word of mouth which requires years in the business.Better off finding a business opportunity where entry level has more chance for success

If there is enough equity at the 6 month mark you could do it then but there may not be much of a tangible benefit unless there is a PITI savings.If you are able to do some renovation in the first (6) months it might be possible to do it on the 6th month mark based on a higher renovation ARV.If you have any specific questions feel free to message me or reach out I am always happy to help and talk REI.

Regardless if a price of a property is high, I learned that sellers are humans and they will react and sell a property based on how they feel.

Dwayne,It is unlikely that anyone can give you an accurate comparison based on just the info you gave. 

HI Mariya, My team is based in Orange County.  

However, since the value of a commercial property is almost solely based on the income of the property, investors and bankers alike have grown to love balloon payments and rate resets.

Those use a AVM based off Zillow or electronic records on file.

Within the nonQM space there are products like DSCR, bank statement loans, P&L loans, asset based loans, etc.

I would recommend first establishing what your financing options are based on your cash on hand and cashflow expectations....  5% down? 

The 5 year proforma by DEFINITION is based on a whole slew of assumptions about a whole host of issues in the future - national economy, local economy, interest rates, cap rates, rental rates, political and geo-political factors.