This has to be big institution and not private investor.  

We are still looking for private investors or financial institutions for the Central America market.

The fees to establish were low and I like to support financial institutions that give back to my community.  

It seems that a DSCR or private institutional loan is the only option then.

The attractive deals in the small college towns in your vicinity are indicative of the enduring demand for student housing, underscoring the potential viability of this investment avenue.Despite the challenges in finding cash-flowing investments, multi-family student rentals can offer a steady income stream and long-term profitability, given the consistent demand for housing near educational institutions.

Payments are often delayed and sometimes, stopped, with no warning--sometimes when new rules were instituted which were never communicated to the owner.

Would you say a local financial institution where you are building your portfolio or out of state where you have history with?

While Redwood City has apparently recently instituted 'just cause' eviction protections which are similar to Berkeley and Oakland, I note the allowable rent increases there are about 9%, rather than the 3% or less in Berkeley and Oakland.

More specifically:- Live where you want: Short-term rental laws in the Denver area are somewhat in flux, with many cities instituting a primary-residence requirement, meaning you must live in the property in order to rent part of it as a STR.

These lower loan amounts are not as attractive for institutional lenders as there's little profit from it on their end compared to offering higher loan amounts, hence why they have their minimums.