I have the option as well to adjust the interest rate up in 5 years but not down.

As for SW markets, ABQ is the "affordable" option as SoCal, AZ, and CO have become over valued making it difficult to find decent deals. 

Of course site specific details could change my take above, but based on what you shared you need to buy a SFR in the two allowable areas above in order to obtain a STR permit. 

Pending sales are a forward-looking indicator of home sales based on contract signings.

What value do you intend to provide your customers that those two options don't?

We don't feel comfortable about houseflipping because we have never done it and rather have a safer option.

This might be because their credit score is too low or the house needs fixing.Although each lender can make their own rules about how to qualify a borrower and their investment, like needing a certain credit score; I believe that flexibility is the best thing about hard money loans since it provides each individual with vast amount of options.  

The only other option if buying turnkey is to do a small portfolio loan.

So, if your contract is based on a calendar month, you giving notice in mid-June would then legally be effective at the end of July.Do you have tenant contact info?

Definitely one of the only paid subscriptions that I actually use regularly and am not upset about whenever the yearly charge goes through.