You might pay higher than it’s worth knowing you’re going to make more NOI with a different business model.  

Some people might not be aware of what the "waterfall model" is.

The loan is secured like trade fixtures with a UCC filing.The other model is leased panels which is kind of interesting as well. 

So people just sit on their equity, feeling stuck.I’ve also noticed that many folks don’t want to talk about it until they’re in crisis mode.

You're thinking like an operator already.Yes, the equity + refinance model is used often in the 8–30 unit space.

We live solely off my W-2 income.I'm no longer in acquisition mode.

So you end up in reactive mode, constantly putting out fires.You don’t just need help.

I havent fully decided which model I will use but leaning towards aquiring maybe 4 section 8s over 2026/partnering up on a STR/buying commercial and starting a gym.

Quote from @Matthew Bernal: Great question — this model is becoming increasingly common, and it’s important to vet both the operator and the structure.I've worked extensively with short- and mid-term rental operators, both as an investor and consultant, and Wanderlust Ventures appears to follow the "master lease arbitrage" model — where they lease properties from owners and profit by subleasing them on platforms like Airbnb or for corporate housing.This structure can be mutually beneficial when the operator is experienced, well-capitalized, and manages properties professionally.

OP is approaching this from a retirement mode.