The sellers may also be open to carrying a portion of the mortgage.Questions for the BP family are: is this a good deal?

They also have an LLC that will be carrying 1/2 of the initial loanPartner 2- They have all of the real estate investment, team management, and project management knowledge and experience.

When done as an owner carry note it is still due but only as the cash is received.  

It likely will also specify what insurance coverage the association must carry. 

If the property is in good condition and priced right, it will move without them having to carry a note back on the property.

That carries the gain forward and allocates the cash and depreciation positions etc.

Here in Florida, Governor DeSantis made it a law that all Mortgages have to carry Flood.

Others may have a different opinion, but outside of a seller carry back up to 90% CLTV (still require some skin in the game, unless you go true hard money) 2nd liens on real estate for purchase transactions in the manner you're seeking are very difficult to get a loan against, whether it be a secondary market lender (private equity fund, balance sheet lender, family office, etc), and usually are seeking larger transcations ($1-3MM +) in this space, and are still capped at a max 75-80% CLTV (still wanting skin in the game).# 4 usually requires more explanation as its newer to the market (DM me if interested in discussing these options further), but all 1-4 appear to be potential options for you based on the limited details. 

You should also be aware that the hotel industry carries a lot of clout. 

It's actually more risky to carry large amounts of equity in a property than to be more leveraged.