If you want to offer liquor or wine, consider making it an optional package guests can purchase in advance—an excellent profit injection opportunity!

That is their profit.

Either way, you want to be close to something that is drawing visitors to the area or you'll likely face too much competition to be profitable in my opinion.  

Are you finding the deal, are you managing the deal (filling the units, taking care of the maintenance calls, making sure rent is collected), are you funding the deal or going 50/50 on profits and losses. 

It’s all about finding a balance that works for everyone involved.Regarding closing with short-term private money, it’s an option, but you’d want to weigh the costs and ensure that it doesn’t eat into your profits too much.

They are going to be making every decision that affects your profitability and if or when you get your money back.  

The Average Rate of Return is calculated by taking your average net profit and dividing it by the total investment.So in your scenario, the total profit is -$50 over a period of 2 years, giving you an average net profit of -$25.

so much private land has been logged and replanted since then.. in those days we would buy a 40 lets say for 150k  take 200k of timber off of it then sell the land on contract for same price then hypothicate the note to pull out more cash rinse repeat.. we also would use our logging roads and staging areas stratigically so when we left the roads were in the right place to do a 4 way lot split and the landings/stagging areas became the building pads.. in the NW permits for logging are not tough.. in those days it was over the counter and there was nothing you needed to do with regard to excavation.. however if I just bought the land and wanted to put in roads and pads then I would have had to get a grading permit and all the survey and engineering that went with it.. its was really something how we did that.. and I miss it to this day.. the other item that made it so profitable was Japan was paying premium for Export quality doug fir logs.. you could get double or more for export logs.

Just one idea, but probably a dozen ways to accomplish this. 1) Father drops the property into an LLC, if it isn't already2) You and Sister are introduced as "profits interest" members of this LLC3) You can then structure how the profits are shared, but Dad owns all of the appreciation that has already occurred, and would get a step up upon death. 

Essentially, being conservative, 75 units at $200 net profit per door gets you there if multi-family is your only investment.