I plan on starting out next year with a small plug and play solution to have minimum risk.

For instance, you can open a solo 401k retirement plan and make contributions as an employer and employee.

How much rent are you getting and are you planning to buy more properties?

Toby - getting your license for self representation of you're planning on doing a lot of deals is a good option.1) You have to hang your license with a broker unless you have a brokers license.

@Juliann MoralaA GC is suitable for estimating rehab costs, but consider hiring a property manager or investor-friendly realtor for unbiased opinions.Video Walkthrough – Have them record a wide-angle video of the interior and exterior to capture the whole condition.Floor Plan Mapping – Use an app like MagicPlan to create a detailed floor plan with measurements.Major Systems Check – Roof, foundation, HVAC, plumbing, and electrical—any red flags?

Refinancing isn’t an option yet because of the way we purchased it (unless someone has a bank that will look at the deal differently) our original plan was to pay off our balloon in early 2027 when it is due which the bank will treat as a purchase and then we would wait until we are able to refinance so probably 2028 and then we could pull out a good chunk of equity at that time.

Our rates are generally closer to 10% depending on the plan you pick (you can search us and see our rates on our website - not trying to self promote) but that is for full service property management. 

You can finance it with an FHA loan (3.5% down) or a conventional loan (5% down) if you plan to live in the property.

I have two properties with MSHB and plan to keep using them in the future. 

A boutique hotel is a great investment, assuming your plan is the turn it into a STR hotel as well.