Check their nightly rate, occupancy and amenities.That will give you a pretty good idea of need and profitability.

Yes, good idea to spread it around.

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

You've given me a last minute Christmas gift idea (for myself LOL). 

Another idea to consider is the FHA 203K renovation mortgage, this is another excellent tool to use because of flexibility and other worthwhile features you might consider researching.

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process. 

Laying the FoundationWhen I started at PPR, I had no idea what a note was and knew nothing about real estate investing.

Selling it now seems to be not a good idea as I will lose 50% of my capital.

Feel free to reach out if you have questions or want to brainstorm ideas!

But chances are, if you show her you’re being reasonable, she’ll see it your way.Let me know how it goes - I’m here if you want to bounce more ideas around!