And even if you have enough cashflow to cover debt service, you may not hit typical bank lender DSCR covenants.

Another week to collect security deposits, review applications, and place tenant is another $21 per month lost.If the price had simply been reduced by $50 per month after a week with no applications, you've essentially broken even.

Is there any private money lenders what would your business plan be. and be nice I am scared I always thought what was is not and I if you say get a job i will cry lol I never worked before and don't even know where to work if I have to.

With some hard money lenders you will be paying a rush fee to get the appraisal and other documents done in time.

Can anyone recommend a collateral lender who lends against promissory notes?

I would suggest talking to Hard Money lenders.

Reviewed the FDD and started interviewing other operators?

In the past on a different property I've called the lender and confirmed it is okay to do this in order to not have a due on sale clause prior to quit claim deeding it into an LLC.I've heard sometimes the lender will say you must refinance into your LLC in order to quit claim deed it to not trigger the due on sale clause.

If you do plan to go for the bonus depreciation then make sure you’re committed to the property for at least 5 years.There are still lenders doing 10% down second home loans as well as 15% investment - I just talked with one last week that served most of the country. 

This detailed, thorough write-up is an extremely useful, if unsurprising, review.