I personally moved my family up here for all that Portland has to offer, both in terms of the quality of life and the more affordable housing.

I would like to call that income, but I know that nobody does in terms of cash flow.

So it does sound like the costs increase in % terms when the purchase price goes down, as if there are any fixed costs then those will rise.Are there any costs that are higher in % terms for more expensive properties?

Looking for general thoughts/advice on realistic chances of getting this deal funded through SBA or other loan structure allowing for new independent hotel construction and a high LTV in the range of 80-90%:I am a principal with 20 years of experience running an independent hotel but no development experience although I have the right team in place in terms of Architects/GC's/Engineers/Designers etc and a great location with proven demandSolid performance, track record and high ranking on travel sites for current propertyDeveloping a small 31 room boutique hotel (economy/limited service concept interior corridor) on site of current hotelOlder property in need of full tear down as life span is coming to end (built in 50's)Looking to do a full tear down and rebuild with a total project cost of $3.6mm including EVERYTHING - demo, construction, FF&E, entitlements, permits, impact fees, etc.

Another $16,000 + Closing costs.If you think in terms of all the money that's going in to the purchase (not just purchase price) and your return on that, then the ROI is looking as great on the money you're investing.I'm no expert ^^ I've been focused on Mobile Home Parks lately so I've been running lots of numbers on Parks I've been looking at. 

I read Nevada LLC is unique in terms of Asset protection. any recommendations?

You're going to have rehab costs, lost rent during the sales period, closing costs, etc, etc.But in terms of calculating net worth for a personal financial statement, its a simple calc of how much do you owe and how much would it appraise for?

However you will need to invest in properties that have a much higher upside in terms of creating or finding immediate equity.

I'd be curious to know what you do in terms of development. 

Unfortunately, only the property address of the deceased is available in this data set though, so I would not have phone numbers and effectively be sending mail to family members (without their name on the letter) at the address of the deceased.My question: What can I expect, in terms of response rate to direct mail, from option 1 vs. option 2?