Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

We are both 28 years old with zero experience prior to getting involved, she works for the business now and I work Blue Collar in the trades. 

Let's break down a realistic timeline for building your REI business without burning out or risking your day job.  

I plan to refinance in two to three year once rates come down a bit.That said, I need to be very confident in my numbers on the hotel, since I'm putting risk on my other properties and essentially wiping out their cash flow.Happy to connect.

That's when it clicked for me - that cap rates are more just a measure of risk.

Trust me; you don't want to miss those crucial dates and risk losing money or even blowing the whole deal.

With online access to almost every jurisdictions property recordings, lenders today use software that automatically searches property transfers for transfers involving their loans.  

Best bet would be a “partnership” with a monied individual looking for a high risk/high return passive investment with you providing the “active” part.  

And lastly, market risks and mismanaged funds can also create major headaches, especially for those involved in lending groups.

Quote from @Michael Challenger: I have no qualms with hard money lending, but I need to learn more about the process and structure to these for typical deals so that I am more comfortable and in a position to reduce my personal risk and risk to investors as much as possible.