I mean can I take a 600k loan to meet a 3 million dollar building's down payment and cash on hand requirements? 

You could raise your rates by $1 a night if you don't want it to impact your cashflow.As for linens not on beds: imagine a family packing for a vacation and cramming everything in a car, dealing with screaming kids on the trip, dealing with nightmare traffic and finally getting to the place and unpack all the crap. 

Hello Joe,Congratulations on your purchases, if you are ever looking for a DSCR loan, please let me know, we do rental loans down to 1.1x and up to 75% LTV on a cash out refinance, or 80% LTV on a rate and term refinance.  

We want to put the equity to use, but prices and interest rates are preventing any decent profit from the rentals we can afford.   

Rate wise, you could get more favorable rates going DSCR than on a conventional loan in some instances.

Thanks for the response, I assumed a primary residence mortgage would have the most favorable interest rate so that’s where my question was coming from.

It is 100x easier if you are investing in your own state though, and a little smaller rate of return might be worth the convenience.

So many things can go wrong with a partner and it never surprises me how many people do dumb things (that you wouldn't guess by meeting them) that could be catastrophic in a real estate deal.

What rate of return are you happy with?

There are spreadsheets you can download that are in this forum that can help.Also checkout the enemy method for estimating rates and occupancy.