They also manage my property as well. 

Sounds like you're doing well so far.

In March I rented and furnished a 4 bedroom home in Hyattsville, MD for STR and it's doing well so far with 21 nights booked since listing on March 18.

Have a mindset that you will figure it out and you will.Thank you so much and thanks for the welcome same as well 🙏🏼  

Well in this new model you would essentially pay your investors 7% in the form of a debt service, therefore when you decide to do a cash out refinance you pay your lenders their 7% and you own all the equity in the property that you acquired.

If you can't pay that HELOC, that's bad news for your primary as well.  

or is it better to use a private money lender as well?

It rents from the business operating on the property which is another entity I own as well(Corporation).

Part of that was picking a good market as well, but there are plenty of folks in my STR market that bought at the same time and have not succeeded.

Hi Summer - here's my experience as well.