You are trying to get bank rates & terms for a private non-arms-length note.First, the interest rate is too low.

The bank fees for a purchase transaction are 1% of the loan amount (1.5% if it is a cash out that is owned greater than 6 months) plus $695 in processing/underwriting fees.The interest rates for a non-recourse loan are as follows:-4.875% for a 5/1 ARM amortized over 20-25 years-5.375% for a 10/1 ARM amortized over 20-25 years-5.0% for a 10 year fixed loan that is amortized over a 10 year period-5.375% for a 15 year fixed loan that is amortized over a 15 year period-5.75% for a 20 year fixed loan that is amortized over a 20 year period-Special quotes may be given for multi-family property 3+ units, rural property, and high rise condominium units

I think there is the requirement that the sales are arms length transactions which the last leg would not be. 

I know of a few funds that offer preferred returns, and project double digit returns in total.

Currently I add the guest's last 4 digits to the locks as a code remotely a few days before their check-ins.

A lot of design questions can easily be answered with pictures and digital correspondence. 

About 500 posts a minute of people that never make it into the double digits on their posts counter.

We are able to get double digit returns with very a passive investment.  

Owes $240k with 17-18 years left on a 30 year ARM.

So, I am willing to learn and start slow with the goal to have a number of houses in the double digits which would be fully paid off in the next 20 - 30 years so that when I turn around to sell them, I would have a lumpsum that can add to my retirement.