We are at a critical point for delivery in June / July of this year.

This will drive how much you can borrow.Consider More Modest Options FirstWith $200k in investments to deploy, look at starting with 1-2 short-term rental properties first to gain experience before scaling up.Explore markets closer to your mom's current location that may have lower costs but still tourism appeal.This allows you to validate the model and your ability to operate short-term rentals successfully before risking more capital.The short-term rental concept could potentially work, but I would recommend starting with a smaller, very well-researched first step to validate the model before going all-in on a larger endeavor.

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.

We also did many calculations of income and expense models over time, based on usage.

Our concern was more about the model being changed from a 4/2 to a 3/2 plus a den.

Be sure to provide ample due diligence for delivery and review of seller records and extended periods for appraisal (and review), title and underwriting.- As with any RE transaction, it's best to consider the other parties perspective when determining feasibility.

This is a good model but doesn't account for a return of the $500k your parents will contribute..For example if the property generates $10k per month with $6k in PITI & operating expenses the proposed return for your parents would be: $2k and $1k for each of the minority partners.

I know that you need the survey, you need to design what is going in the flooday, You need to design how you are offsetting what are doing to get a zero rise certificate, you need to get the FEMA floodway model and then have someone do the software run and make sure that you have zero rise and mybe tell you that you need to change more, but that seems to be mostly internal design and engineering?

I don't agree with their business model to do all that work and flip and profit $10,000 to $20,000 and that's before paying capital gains tax.

Use alternate rent models to maximize cash flow.