A guy is building a 200 room upscale low impact (ecologically appropriate) resort in our tourist town.

The market in Alberta is still pretty "soft" and if you put the extra effort/money into creating a secondary suite, the returns can certainly be in your favor.

@Rene Doyle a cursory look at wiki shows stagnant population since the 80s, 70k people which is quite small for the msa, no meaningful job growth, 3 primary employers in 2 segments, and a median income in the 30k range which suggests rents no more than 750mo. not favorable my standards but that doesn't mean there aren't good deals. a remote investor will have issues typically finding a great team in small tertiary markets like this. if you have inside knowledge that it's about to pop with a big employer then perhaps.

If you are thinking about buying in Arizona, the interest rates have not been any more favorable.

For that amount of land 15% down is actually pretty favorable. 5% interest isn't too bad (depending on what it is zoned for).

For the most favorable mortgage terms do I have to quit claim deed the titles into my personal name and have them in my name for 6 months? 

As mentioned before, NOI is very healthy and would justify a long term hold if needed, but resale within 2 years would be the end game on this deal so long as market conditions are still favorable. 

Depending on your strategy, you can sometimes forgo high cashflow in favor of appreciation.

What I am looking for here is one where I can pull out more than I put in (because I was able to make a great buy or get a favorable appraisal).  

If you have to "hope" and pray the market is favorable when it's time to refi, should tell you everything.