The structure will depend on the down payment, quality of borrower, terms of note, your cash out of the note sale needs, and other factors. 

The license doesn't cost more, the service and quality does.And a note on that cost, in my experience hiring contractors, only a small percentage of the cost savings was due to finding the right guy who is willing to work for less.

Quote from @Andrew Betts: Hi Michael - We own and manage homes in Solara, I can recommend it for a strong ROI, and there is full access to the clubhouse, and better quality food and drinks there, than at other resorts. 

So, make sure YOU understand the copy & paste info below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

So quality of tenant is irrelevant as accidents can happen.So most of your post demonstrates that you did not really think about it.  

They can't assess all the subjective data like overall layout, view from the living room window, the dogs next door that bark all day, the width of doorways, size of individual rooms, quality of kitchen cabinets and appliances, etc.The best thing to do is study your market regularly.

In the upper right hand corner of your screen is a bell.

It could, but you could screen this location with PriceLabs.co as they use both airbnb and hotel rates to create revenue forecasts.

Cost per lead (CPL) is crucial—it shows how much you're paying to get a potential seller or buyer’s info, and you want this as low as possible without sacrificing quality.

Forget the course and put that money on a quality vacation short-term rental.