The deal was valued based on a recent sale of the local Holiday Inn, (only real competition for us) which also needed to undergo renovation.

I find that the previous owner is usually a bit  more relaxed than I am in screening tenants and allowing things I don't allow- namely dogs.I usually speak to the tenants a bit if they are there when I view the property or during inspection- you can find out a lot then.  

We are skipping July just because of the holiday but will be picking it back up in August.

The deal was valued based on a recent sale of the local Holiday Inn, (only real competition for us) which also needed to undergo renovation.

But I am not a lawyer, and I didn't stay in a Holiday Inn Express last night.This thread is a shining example for two of my, and mine alone, personal viewpoints:1. 

Our first purchase was in October 2023 and it was a little tough to fill late in the year (due to the holiday slowdown), but our first guest arrived in early January and it's been booked ever since, now through September.

I think you'll cost yourself more by not allowing check ins and check outs on holidays.

Apply for helocs, many have much more relax prequalifications vs mortgages.

While other wholesalers are relaxing at home and waiting for a deal to fall into their lap, you'll be out making things happen.

Consumer holiday spending was record up '07' holiday, did that mean '08' was to be a safe, good year with people flush with cash to spend?