We both directly lend and we broker deals to other lenders whose credit appetite fits the transaction better than ours.

Most banks will offer 25% down, rates as of recent 5-5.75% depending on appetite. 20-25 year am schedule.  

There is a really strong appetite for both property types and I don’t feel one is easier than the other.

It all depends on their capital partners and what they like and what kind of appetite for risk they have. 

There is some serious market fragility in lending right now as the secondary market is losing its' appetite for this loan product, and wants loans it views as less risky, in addition to a pull back on loans specifically for STR properties.

If you have an appetite for running repairs, you can also score a duplex for that price range with dual income opportunity but of course with higher reserves for your CAPEx and Maintenance reserves.

Noticed the seller had some significant inefficiencies in his management structure that were suppressing his NOI.

However, when you pull up the current market, you see that nothing comparable has sold in the past 6 months, and that the currently listed properties have been on market for far too long, meaning this is an area where there are no buyers, no appetite for these homes.

This allows the originating bank to lower their risk on the development when the carry the "second" loan.With regard to development, there are a number of issues to take into consideration when dealing with new construction or expansion, water retention, impermeable site coverage, water supply and pressure (is there enough pressure in the water main to service fire suppression), electrical capacity (I know you mentioned solar, yet fire alarm panels and systems require 24/7 power, sewer connections, and zoning are some that come top of mind.We just worked with a client that purchased a property to expand. 

Dpeends on their risk appetite which all of us here cannot judge.