It's also ideal if you know what strategies support your particular deal (fix and flip, BRRRR, rental/turnkey or STR).Feel free to connect if you need any tools to support you in these mentioned regards.

We're priced somewhat above a fairly new Springhill Suites about 4 miles away. 

Moving there initially since low down then ideally want to rent some rooms to cover mortgage!

Following as I deal with STR in the lake region.

Are there any resources available and recommended that would be better suited for creating a pro forma for new (spec) construction?

It's advisable to formalize the partnership with a legal agreement, ideally drafted by an attorney.

Should I file suit to make them sell the property?

I wouldn’t want to hold the loan for too long, so ideally it would be a 5 year term, presumably ballon payment at the end.

The location is ideal, as it’s situated in a neighborhood that permits short-term rentals (STRs), making it a great investment opportunity.

Looking to limit the amount of cash I need to put in (ideally under $10k) by leveraging different financing options @Eric Huntermark I think less than $10k down on a purchase price of $150k is going to be hard to find.