You are roughly 50% completed, the interiors will cost more than you think.

Most hosts just lower their prices when things get rough but guests just want am interesting experience. 

Let's say at 6% over 30Yrs will be about $960 per month(Principle/Interest) with the remaining  interest only portion $40K costing roughly $200 per month. $1500- $960 + $200 IS $340Cash in your pocket after everything roughly $1500-$1160-$340 which is not bad for a 100% financed deal(INFINITE RETURNS)Now, If you ran this analysis on a 1% deal as @Nicholas L. mentioned you will undoubtably end up in the red each month.All the best!!!

I'd need the interest rate to be roughly 5% to breakeven on an interest-only loan, and was considering a balloon payment in 5-7 years.

The only downside with SC is the LTR pricing will be rough if you have to change course, so buy with that in mind.

It’s a small cabin built off the grid within the last few years and on roughly 2 acres.

Renovation cost is roughly $30K.I guess what throws me off is that you say Cash invested: $60 

Together, the property nets us roughly $1,400/month after expenses.Equity Split: My partner owns 60%, and I own 40%.I'm exploring ways to take out my equity without disrupting this deal, as I feel this isn't the best financial decision for me right now.

It attracts a rough tenant pool.

The Oregon Coast is rugged and roughly 400 miles long.