I know they are expending to other areas in the country.

When it comes to my financial situation, most of my money is in savings and index funds, so when it comes to making my first purchase I don't have a lot or expendable cash to use.

Arisa,You state that "we would plan to do most of the work ourselves".I would urge you to think about the DIY hours that could be involved here, because 12 hotel rooms is a lot of labor for you and your husband to take on.If the construction cost will be $250,000, I would estimate that there will be approximately 4,000 workhours that will be expended during the renovation. 

If you expend so much effort on this, you will lose motivation and lack the focus to zone in on what matters - giving offers to sellers and getting contracts back.

It’s a great option if you’ve expended all your other opportunities but still have a higher income with which you can carry on investing.This is barely scratching the surface of all the things you can do with a cash value life insurance policy and real property, but I wanted to at least open the thinking process to this potent yet under-utilized asset creation strategy.

If you found out early on that the fridge was back there, and you CHOSE to leave it there then its YOUR fault and by allowing them to store it there, you should take on the responsibility of replacing it. by allowing fridge to be stored there for several years, you "gave them permission." if you didn't visit the unit for 6 years, well you have bigger problems than the fridge that should take priority. in that case, if it was a brand new fridge you should charge them a prorated amount for a new, yet similar one. if it was already around the 5 or 6 year mark at beginning of tenancy (you said it was 10 years old) then you have expended its useful life. if we assumed a 13 year useful life on the fridge, you can charge them 3/13 of the bill on the new fridge.

Use your remaining capital to purchase 9 other similar properties to 90 percent LTV (expending a total of 100,000) and perform the same analysis.

I’m very interested but couldn’t buy it traditionally for 25% down because I simply don’t have the capital after expending mine earlier this year.

I doubt they expend a great deal of energy doing that, but there are red flags that would tip them off, like changing the insurance policy to a landlord policy.I would definitely pull out the refinancing paperwork and run this by an attorney to see what options you have.Good luck!

We use smart locks, auto messaging, all the normal stuff, the little things I am running into issues with automating are things like having the trash taken to the road on trash day, restocking expendable items, installing a smart thermostat to a system that’s not compatible, paying my lawn guy that only takes cash (need a new one I guess).