One other piece of advice - the U.S. market isn't easy, especially in the current environment.

That seems incredibly low for today's lending environment!

The Soviet State collapse  "peace dividend" for me equaled a shrinking of military procurement contracts which tanked the SoCal real estate market and caused a brain drain exodus that carried over to the rental market.

BIG BAD Diesel TRUCKS, less make them burn an expensive additive (DEF) and be less fuel efficient and we will do it all in the name of environment. 

Sure if it's a peace of poo property and you do the numbers and can convince owners to sell for less so you can do rehab and refinancing to pay back the private lender and all that but what if the property is good and doesn't need all that how would I pitch a deal to a private lender?

There are so many things that could go wrong in a normal BRRRR, this raising interest rate environment adds a layer of risk and complexity to the whole thing.It sounds like you have have your hands full already :-)

Like others have commented I’m not sure how that specific market is reacting to the  environment but have certainly heard that Arizona continues to be hot.

At this time I plan to send all units a letter reminding them to respect leases related to the right to peaceful enjoyment, and a notice to comply or vacate to the Unit 1 tenant.

Not sure how it's done, but it definitely wouldn't make sense for me to put the entire property as collateral, as the total value of 2 properties greatly accedes the amount of the loan.What is the reasonable way to structure it that is fair to me and yet gives a lender a peace of mind?

Here are two of them:https://links.t.biggerpockets....https://links.t.biggerpockets....Personally, I think we've been in a rapidly changing environment for the last 2 1/2 hours and how STRs have performed during this turbulence varies a huge amount by location and specific time period.