If your rental is worth $1,200 a month, offer to keep them 5% - 10% below market as a reward for their continued tenancy.

Multifamily house hacking is a CLASSIC strategy and very rewarding.

I view Gulf Shores as higher risk/higher reward - appreciation potential is definitely higher, but risk is much higher to get wiped out as well;  basic costs (rehab, insurance, etc) will be much higher as well, but so will rental amounts.  

Having this potential deal caused me to go on the hunt for people to help, and he is one of the wonderful rewards. 

Deals are about balancing the Risk and Reward for investors.

If you're confident in your abilities and have the necessary time and resources, taking on the role of your own GC can be highly rewarding. 

Low risk, high reward for them.I would also consider getting a 2x security deposit + 1st months' rent + last months' rent.

These investors are typically large financial institutions looking for safe, predictable returns, such as pension funds, insurance companies, and banks.Key concepts to understand in economics and finance are risk and reward.

There are risks and rewards to each.

It's hard to convince a Seller that their prize possession isnt worth as much as they think it is.Out of curiosity, what valuation strategies did you use for the hotel?