Lets ignore the vacation home aspect first

Almost every aspect of real estate involves some form of commissioned sales.

Like I said I am still learning the mortgage aspect of it all and definately want to do things right thats why I am here to learn from ppl like you all who know better.

How likely do you think unforeseen negative aspects of changing a large part of how our economic society operates are if the code was so simple a monkey could do it?

There are two aspects to business entities, the legal side and tax side.

Additionally, if anyone wants to chime in on the finer points of converting owner/occupant to rental, VA home loans, and incorporating, etc.

Condos have a couple negative aspects. 1st, the condo fees, which will never go down, eat into your monthly cash-flow.

Joel Owens - They definitely missed the point, but do so in all aspects of their business.

Another good aspect is this would be about a 2 minute drive from the interstate which is a big deal with so many people living in Bismarck/Mandan and commuting to the oil fields.I realize this is going to be a tight deal because I am financing 100% of this but with all this said, do you think this is a fesable project?

As a borrower get to know how the deal is being looked at, the good and the bad ask about it even if you do not like the negative aspects.