They are simply too well-funded and have too many brains working on bringing about improvement and innovation.  

Often, they simply re-hire existing talent that have already been working on these farms for many years, just under new, better-capitalized management.

But I think Andrew's story on this thread:https://www.biggerpockets.com/forums/530/topics/1199277-craz...WINS the current prize for CRAZY.

It's also extremely hard to win with an FHA loan to house hack in NJ because of the competition and the repair issues that won't pass FHA.

And I simply can’t imagine you would stay consistently booked at those very high nightly rates.You have a very nice home, but there are plenty of homes that are similar to yours that are nearby to yours that are charging $500-$1000 per weekend in March, April, May, September, October, November.

You buy a duplex and then find yourself having to move, you simply get up and go.  

Educate yourself continuously through podcasts (BP for the win!)

You can do the refinance in your name and pay off the line of credit with the cash proceeds after the funds come to your bank.I would simply do that but my lender said the refinance would be off the purchase price and not the new value after all the value add.  

As a start up building firm, a business plan with a worst case, best case, most likely case financial scenario played out for a seven year term into the future- will probably reward you with more specific dollar amounts that you could potentially earn, then simply picking large dollar amounts and asking how do I get to these figures from this small borrowed amount I have.

If not redeemed the property is signed over to the winning bidder.A couple of details.