The basic math they used to describe "replacing" your income was a bit shocking.

Lol inexperienced buyers are always shocked by closing costs anyway.

I'm shocked and embarrassed because I've never heard of "forever PMI".

However, rate would be prime + index + an additional +2% for the shock factor just to qualify, but you can draw the funds whenever you want vs cash out where you have to draw all the money after closing. 

I've done some preliminary research and looked at what other communities have done and there are many ways this could be approached. 

Importantly, the LOI isn't legally binding but serves as a preliminary document outlining your interest, potential purchase price, and contingencies, allowing for negotiation before finalizing a purchase agreement.

So we had "covid shock", but we are very solid with mountain recreation. 

When a professional is running the pricing, the schedule, and the guest services, you would be shocked to see how much 1 unit can actually make.

The way things have gone over the past couple of years, sadly it doesn't really shock me

Once you've shortlisted potential properties, research local zoning regulations and schedule physical viewings to confirm modification potential and overall condition, considering bringing along a contractor for a preliminary assessment of conversion feasibility.