So, you can add SEC violations to the list of things he did wrong.Since you now have the notes in your possession and are actively working them, that might have changed now however, I would bet that if you contacted the SEC and told them this story, they would probably take action.

I bet you have come close to setting a record for a student starting from scratch and doing 16 deals in 6 months..

Someone local, who knows the area and how properties move is the best bet for the most accurate answer for you. 

I agree though with everyone, best bet is to buy him out asap so you can do what you want with it to upgrade it and then decide.

My issue isnt managing from DC since I’m a flight attendant and have a  flexible schedule.

:)JasonWell it's going to depend on how flexible your engineering job is.

DSCR is your best bet.

I think it’s a long road.I’d just be willing to bet handsomely that occupancy is a huge challenge, revPAR suffers, and asset values fall in many STR markets over the next few years, and fear that the Smokies may have among the highest risk.

You stage it and have it flexible as you grow. 

If you want 10% returns you might have to look in another market, but if you want to park some money in a solid property, as long as it generates enough to break even after all expenses, taxes, etc. to allow you to hold on to it for 5-10 years I'd bet it will do better in the long run than a 10% cash flow property in a lower end market.