Paying off a chunk of that 7.3% mortgage is essentially a guaranteed return at that interest rate.

This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

And there is a constant mention of Guaranteed returns there is no Guarantee unless its the federal govmit on 250k or less FDIC insured .. this was simply investor greed.. investors did not understand what they were investing in what the risks were and were blinded by the returns offered.. no one put a gun to their head.. investor make bad investments all the time..  

A high occupancy does not guarantee the lost revenue.

For an SBA hotel loan, the SBA may guarantee say 30% of the loan and a traditional bank takes the next 50%...total LTV/LTC of 80%...will vary by business but it's higher/better than the previous replies (otherwise, you would just get a traditional commercial loan without the SBA involved). 

Maybe see about getting it turned into a section 8 and showing the tenant how to do that so you can get guaranteed rent from government if its a possibility?

This was just advice of course, no guarantees of results.Regardless of the type of auction, once you own the property you can do anything legal that you want with it.

Most times when people look into it, they decide to just eat their mistake because lawyers usually want a big retainer and legal fees add up quickly with no guarantee of success. 

It's no guarantee but it's a good place to start.

To guarantee compliance, also acquaint yourself with zoning rules and municipal restrictions.2.