Fixed expenses are simpleInsuranceTaxesThere will be slight variations in those, but more or less they remain consistent.

@Tanner MartilloI would go with a variation of option 2 but with a high LTV but only if your relationship with the partner is very solid (like for life solid).At high LTV, retail (MLS), rent ready purchases in San Diego will have negative initial cash flow.  

After doing this, I then run the property through Airdna.co and/or Mashvisor.com Both of these tools will give you projections of what type of rental rates, price per night, bookings, occupancy, seasonal variations, etc.

Basically, there are a lot of options and variations but you should be specifically seeking a construction loan and from there its really up to you to decide what is the best option.

After doing this, I then run the property through Airdna.co and/or Mashvisor.com  Both of these tools will give you projections of what type of rental rates, price per night, bookings, occupancy, seasonal variations, etc. 

There are several variations on this and Bill gave you a couple of them. 

Well, lots of people use some variation of this strategy without even thinking about Starbucks.

As a property becomes more unique, there may be more variations in an opinion of value.- The Appraiser's Client is whomever hired him.

You can also us search terms like financing, assumable, or other variations. 

Essentially, we extracted the ADR and occupancy rates to see the variations between potential revenue based on how many guests are able to stay at the properties.The goal is to shed some light on the different levels of demand depending on the # of guests allowed as well as to see which months attract the highest demand (hint: it's March, April & October).