What's the going rate for other motels renting by the night in the area? 

They have always rented them at well below market rate and the repairs were made by the tenants.

My firm has several lenders who can seamlessly close in 15 days on 'traditional' mortgages at/below market rates and we've been doing so for a couple of years now. 

I was thinking about doing real estate sales on the side as a sort of part time hustle while I'm in school and working my w-2 but that's great to know.

You have to put more money down and pay a higher interest rate and is limited to only 2% IPC.

The effort to foreclose, the limits on rates, etc.Maybe a unicorn to find HML that will loan him the necessary money, but I doubt he will find it.  

With that low interest rate, you will have paid down a lot of equity in the deal and should be able to finance with a bank.

If I leave this amount in Sch-E, I get taxed at ordinary income tax rate at Federal and State level, which along with my regular W2 income can be substantial.

@Ed Lopez our thoughts:1) $65 is average hourly rate for handyman in Metro Detroit.

One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.