Sounds well though-out.

Hi @Rafael Ro,I completely get where you’re coming from, and it sounds like you’ve done a lot of thoughtful research.

I wasn't around hosting during the COVID days & certainly sounds like they should've honored the hosts cancellation policies but know COVID threw a wrench into everything, no matter the industry.

I'm with CSSI and we've completed over 45k studies, and this is what we specialize in. 

A great lake front home doesn't have to cost a mint but it sounds like you want something that is really fantastic which will bring a higher nightly rate.

@Mike Terry sounds like a pretty good argument to go after the property, I think your question is more along how to value it, and account for the deferred maintenance. 

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

While some of the answers were different from each other, I completely agree with all of them.

There are two items that you need to completely solve this problem for your rehabs: properly built Design Boards and a Finish Schedule.

We decided that we would put our current home up for rent when the new house was complete.