Many of those items are desirable by all guests, so I'm not convinced that you have to dial it in to one category at the expense of others.

They have a lot of capital.

Over three decades, I've not seen a ton of situations where no money down/100% leverage has worked well. 

You guys need to get rid of that student loan debt.

@Lauren Lewis, also one of our members Barb Mayne hosts a monthly meeting for the Topeka / Lawrence areas - it is on the MAREI Calendar and she also has a facebook group and a group on meetup - eKARI  Eastern Kansas Association of Real Estate Investors.

My mother originally agreed for me to refi some money out of the equity of a house we co own but then she changed my mind after I signed the contract on the guesthouse.  

Hey @Audrey Sommer, is this in regards to overall condition of the home or highest-best-use of a property for investing?

If you have one and it says it goes to month to month after the initial year, write up that you are following the terms of the initial lease with the exception of....then add in anything that is different (eg rent, giving notice, etc).

With a purchase price of $740,000 and construction budget of about $1.3 million, a future appraisal estimates its value at $3.75 million.

I thought I was a big fish in a little pond back home.