I offer a lot of development consulting since I have a background in Civil Engineering and Urban Planning.

Not too impressed with Panama City but the resort and the plans they have for this property were truly impressive.

My wife's even planning to camp out there for a couple of weeks to make sure things get done right as we are based out of NJ, so time's of the essence.

Let me show the numbers; please let me know if it makes sense:Property Original Value $10,000,000.00 Initial Finance $7,500,000.00 Investors Money (Downpayment) $2,500,000.00 Ipotetical foced Appretiation New Value $12,500,000.00 New Downpayment/Equity $3,125,000.00 Refinance Principal $9,375,000.00 Cash Out from Original Investment back to investors $1,875,000.00 There are some MF investors that hold the property with no plans to sell and keep doing refinancing, and this seems to be the model applied by Ken McElroy.

Do you plan on rehabbing it?

To find the plan that best suits your financial condition and investing goals, investigate both private money and house flipping choices.

We planned on using this as a STR and were expecting 50% occupancy.  

In my experience, short term rental managers charge the most, followed by room by room, followed by longer term management.There may be an opportunity for you to do this yourself if you plan to continue living in the home.

Did you tell the owners that you plan to not occupy the place?

However, I have an actionable plan set into place now, with the monetary means to set my plan into action.