(this is a $30M project) and does not want to use Costar or Loopnet.This seems wrong. 

Nothing is wrong with trying to get them business but I do like honesty. 

There's nothing wrong with seeking concessions if there are issues that arise in the report, but using this as a strategy will garner you a reputation within the community if you are repeatedly going under contract and then seeking large re-trades. 

The main reason is other buyers who are better able to pin down operating costs will either outbid you because they have their costs right, or you'll outbid them because you have your costs wrong. 

You can't go wrong with either but for someone starting out I would recommend Hospitable.

If it goes well, investo more.If it goes poorly, figure out why and maybe you picked the wrong market, the wrong team or the wrong property Class. 

It is a constant headache dealing with all these different department s and their advice is not consistent and quite often wrong.

So you could pay cash for a nice little STR.1) There's nothing wrong with sitting on some equity.

It’s probably wrong for us to laugh at people who lack some knowledge - but why would anyone invest in something they don’t even have a basic understanding of?  

That sounds like someone who has been going in the wrong direction financially for whatever reason.