There are plenty out there and there are several variations (Fixed rate, Arm, bank statement, rental income qualifier etc). 

You might get several quotes to see the variation but also look for a strategy to limit the scope.

There are some variations in price, and some areas are more expensive, you can either drive around and find this for yourself, it’s a small enough region you’re able to do this, or hook up with a realtor and tell them what you’re looking for.

A conservative IRR of 5 to 7% is very reasonable but there will be wide variation years after years of the yearly yield.

@Austin Seth Start by googling "X city short-term rental laws" or variations of that.

I feel like there's some variation as one or two or three rooms might be vacant at a time.

You'll also see a lot of variation depending on your particular scope of work. 

An obvious option would be something like 1pt per month (or some variation on that), which I've seen hard money lenders do, but I'm wondering if anyone has any other ideas on how this could be structured?

Or, being aware of population growth in certain pockets of the state and the cost of living variations throughout the State.

The variation in price is a function of their business model: where are they securing their inventory and at what cost, what are their labor, marketing, and other business costs, and what profit they desire.To your specific question, "yes," the bank can basically offer whatever number they want.