Hi Julian, After repair value is usually based on comparable sales not rents..

Closing costs are comparable to a standard conventional loan. 

The hotel market is limited because typically the people that build them do not let them go or they change hands in a small circle of hotel owners compared to retail or Multi.  

When you go to sell it, the appraisal will buyer's appraisal will be a traditional As Is appraisal on a FNMA form 1004 using area comparables.

The key point is that data is typically interpreted as compared to expectations rather than month-over-month or year-over-year numbers.

$80k seems to be relatively small compared to the amount they will make from the sale.

In my opinion, I would not take the advice you received regarding using OPM is you have no experience in investing in real estate.I would also not look to be a private lender for several reasons1) You are better off putting your money with a corporate bond / CD and get 5-6% with little risk compared to 10% to 12% with much more risk given today's market conditions2) You won't be able to retire getting interest income, which you said is your goal.

Two friends of mine have both recently built places around here that are more Scandinavian style, for lack of better words, and are crushing it compared to their other homes, which are mainly cabins.

If you can find anything comparable that has sold in the area as well as if there's anything similar on the market, that may be a good start. 

Has the wealth manager been able to generate a higher return compared to a complete stock market ETF?