A few of them also mentioned that they don't really expect this to affect the housing affordability in the county, but do believe that STRs can affect the quality and integrity of the neighborhoods in the county which they want to preserve.  

Am I overbudgeting in the expense areas I mention above?

Why mention the tenant will be responsible for appliance repair above ordinary wear-and-tear?

Thanks for the mention @Jonathan Greene!

With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment!

I would just start out by meeting with bankers, telling them your goals and mentioning some of the ideas you had(FHA vs conventional) and ask for their advice.

So, you say will I want to take some cash out using the 200k value but most programs will require you to wait some period of time from 3 months up to 12 months for conventional before you can use that 200k value to pull cash out.This seasoning does NOT apply to delayed financing as I mentioned in my post above.  

For consulting with a CPA.As mentioned above you can simply take monthly distributions, but what is most important is how you are set up. 

In addition, when you have leverage you have the other benefits which @Ali Boone mention.

The other areas you mentioned are too high for this particular need