For the sake of discussion and out of curiosity, why do you think MFRS are few in Sioux Falls?

If that's your dream, then is it okay if your investment breaks even and you accrue equity? 

This is because the HELOC’s minimum payment typically breaks down as all interest accrued on the outstanding balance over the last month + a defined portion of the principal + any fees.  

Cash would be when revenues received its recorded and accrued would be when revenues earned its recorded.

Here is the actual requirement from MD Attorney General website:When returning security deposits of $50 or more, the landlord must include simple interest of 3 percent per year, accrued at monthly intervals from the date the security deposit was paid for all tenancies that were initiated prior to January 1, 2015.

At that time, all the accrued interest and other holding costs are included in the cost of goods sold.  

Out of curiosity, I messaged back and they returned the same intro message.  

Out of curiosity, I tried booking a room at the same hotel. 

In my posts, I'm actually looking for insight to my questions and curiosity as I learn about investing

Just out of curiosity are these going to be your first investments into Condos ?