The best we can do in our little slice of the world is to try to move the needle in a positive direction by being ethical, and professional, and by keeping our properties in better condition than is required. 

It's a really crappy situation no matter how you slice it.

I feel like I have a pizza with a slice missing.

A man goes to the DR's office and when the DR asks him what's wrong, the man says it hurts when he raises his arm. 

For me this would call into question more than just the fundamentals of the deal and I would likely want a bigger slice of the pie than with a simple loan.I'd recommend digging into your hopes, goals, and ambitions with this and your future real estate deals and matching what you offer finance partners with what you yourself are hoping to achieve. 

So they think this is a big discount compared to Class-A MF properties trading at ~3% direct caps, when in reality the property has reached the end of it's life, and they need to slice that asking price in half.

Thus, it is a considerably smaller slice of pie of potential guests.In 2008-10, I recall large cabins with indoor pools renting for well under $200 a night just to keep cash coming in.   

You will pay more for the capital in terms of pref, but can give up a smaller equity slice.  

Big caveat about asking for ideas on a forum like this is you will get people who, through purely confirmation bias, think the asset class they work in is the best thing sliced bread.

Pick up your stuff and leave man. Go