Whenever you hear something that sounds useful, WRITE IT DOWN.

It sounds like you trust your PM and he is doing what he is getting paid for.

If you want to close with cash, it sounds like youre going to have to liquidate your collateral or borrow against it, which will likely be more expensive that a mortgage.

What you describe sounds a little like a BRRRR (Buy Rehab Rent Refinance Repeat). 

A great lake front home doesn't have to cost a mint but it sounds like you want something that is really fantastic which will bring a higher nightly rate.

But it sounds like a good opportunity for someone like Eric and many other Canadians. 

Sounds like there are more cons than pros. 

Thanks tons and if this question sounds very immature, i'd say 'that's about right' given how new to this game we are.Thanks again!

The cop sounded lazy or dumb to me.

Hey @Nicholas Hausmann - I can't provide much feedback on Springfield Illinois it self since I am up in Chicago, but it seems like from what everyone is saying it's a solid cash flow market.In general, it sounds like you have a solid plan...I recommend making some trips there to meet some of the local investors.