Zoning varies, so always check the local regulations for your specific needs.Financing: While cash purchases are common, financing options are available through local banks and credit unions.

When tapping into your home’s value, you have two main options: a home equity loan and a HELOC (home equity line of credit).

I personally never did one of the high-cost courses, but I do think it speed tracks your journey. 

If tenants are moving out right after closing, do double check the leases clearly show the security deposit they paid the seller and you collect that amount at closing from the seller (credit to you) so you have those funds to then return to the tenants when they vacant under your ownership. 

Having a good agent that has a proven track record with Condotels is going to be very important for you and should be able to help with many of these questions. 

Then another thing I see coming down the pike is the credit card debt.

We are looking for a Co-GP that has good track record and help us to manage the properties we are buying, we will do the heavy listing including bringing investors.

The loan can be called, but in the 45 years I have been doing this I can only recall a handful of cases and it usually was Credit Unions or private money lenders.  

What kind of credit score do they have, and is it high enough to meet the requirements of lenders?

Or are you looking to track expenditures for bookkeeping reasons?