We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

Thank you Shawn much appreciated!

Feel free to reach out if you’d like to connect or need more insights!

Because it doesn't matter how much you get on a PA if it can't appraise. 

I can't imagine how much extra time is spent without having automation.

Check their nightly rate, occupancy and amenities.That will give you a pretty good idea of need and profitability.

How much below market are current rents?

Any reason why you need a "private person" here? 

The investors get much more profit out of the property.Recommend having a very open conversation with your FIL, expressing your interest in potentially taking over the property from him.

In my home market of Florida, our insurance rates have made it much harder to have positive cash flow on a CRE deal.