Can you give us the details, What was list priceWhat did you offerWhat was their minimum to hud counterWhat did they accept, I assume this is same as second answerHow long after the "countered" did they come back and accept your offer?

Assuming I get an appraisal of $500K, I have ~$110k (75% of appraised value minus the loan) I could tap into for equity for a HELOC.Question: What is the process for getting a HELOC?

(I assume you won’t find a 1 hour a day type person.

(My market has 2.5% property tax and I am assuming 2.5% for maintenance) and a 6+% APY for an investment property.

@David Cherkowsky   The above is absolutely correct, BUT do not assume you cannot qualify for a conventional loan.

This is a GRIND but that is the way forward in this environment IMO.Why this works is simple: You slow ramp to give time to build alot of skills needed to scale at the end of the 10th year you SHOULD have at least $3M portfolio assuming 3% appreciation that is $90K you are adding to your net worth EVERY single year guaranteed!

A boutique hotel is a great investment, assuming your plan is the turn it into a STR hotel as well.

They're basically two different skill sets and it's fallacious thinking to assume you can do one because you can do the other.

When including maintenance/cap ex, vacancy, pm, misc he will have little, and possibly negative, cash flow.if he invested almost $250k to add less than $150k of value (assume some of the current value came from the home appreciation), there is no cash flow until the initial negative equity position is recovered.  

It'll be confusing in the short term, I think people assume it's inflationary.