You can see how it tracks relative to apartment rents, its understated in the inflation numbers reported.

Generally our process as property managers is to start right on track with market rate and assess activity on a weekly basis and recommend changes that may help activity such as price reduction, changes to allow pets, include utilities into the rent, move in specials etc.

Crowdfunding makes real estate easily accessible, however, in regard to institutional real estate investments, the advice of an expert who works in the industry every day, knows all the players and their track records, and performs due diligence on each offering is a great benefit to you and comes to you at no cost. 

It seems that you are on the right track though.

Underwrite your deals super conservatively and if the numbers still work out, buy it! 

I wonder how more experienced STR operators keep track of these supplies?

Lines of credit are available to operating companies with long track records of income.  

Keep the lease m2m and if it doesn’t work out terminate.  

We've explored commercial loans, but the terms don't really work for most multifamily buyers.Someone in this thread said they did it successfully, but didn't leave enough info for me to track down: https://www.biggerpockets.com/...I figure this wonderful site must have an answer to this question!

Without any experience and a track record there's few lenders that will loan a person money, let alone release funds upfront and trust you, unless you have something to put up of equal value for security.