Taking a deposit to secure the deal can be a good option, as it shows the buyer is serious and committed while also giving you the time needed for the 90-day rule to clear.

There are people who buy a longer term (12 months or more ) OPTION giving them a RIGHT to purchase a subject property, at a certain price, within a certain amount of time, and attempt to either sell the option for a higher price or close on a simultaneous purchase and sale to an end buyer paying a higher price.  

Any insight into the kind of options we may have for something like this and how qualification for a small hotel differs from residential conventional loans would be extremely helpful.

That $3,000 is typically the annual cost for a full service property management option. 

Gas or electric would be a much better option, safety wise, from a house fire standpoint, CO danger, or danger to children or pets from the open flames. 

I would suggest setting "instabook" to "off", allowing one of the more flexible cancelation options, and having a minimum stay in line with your local ordinances.

so, to recap, you need cash for: down payment + closing costs + holding costs.for a new investor, a live in flip might be a lower risk option than an outright flip. 

New construction can be a very attractive option in certain markets.

I have saved up some money but my goal is to save up at least 20k in a year before I start looking for options on house hacking in a duplex.

Great day to all,I've just been soaking up all the online youtube videos from Bigger pockets one after the other and I've made the determination to scale my business massively using the multifamily addition into our (wife and I) portfolio.