It turned out the whole thing was a bit of a scam - the "lender" took a huge up front fee ($4,000) to do the deal - so it turned out they weren't really the lender... they were acting more like a broker...while it wasn't said this way, it appeared to be "after you pay us $4,000, we'll try to go and find you a loan."  

Appears she got as upset as you.

Every system you try will have flaws, or you may salivate over a feature that appears in other software.Some familiar names are mentioned frequently: Stessa, Apartments.com, RentRedi, TenantCloud, Innago, RentManager, Avail, Rentec Direct, Doorloop, etc.I recommend conducting thorough research on each app online to understand their offerings, pricing, etc.

Since you are doing shorter term deals it appears, you may want to get creative with the accounting and structure to maximize profits.

It appears that a significant portion of the business's value lies in its name, website, marketing, furnishings and other intangible assets.

To persuade parents of the risks involved, educate them on the BRRR method, explaining how each phase works and why it's less dangerous than it appears.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Their coaching program pricing appears to be reasonable compared to other programs, that lures you in then upsells participants to their 50-60K packages. 

Now that it appears rates are coming down in the near(ish) future, what is a general rule of thumb on when to refinance?

You are correct hotel underwriting typically has vacancy built in for cosmetic updates but in this case it appears your improvements far exceed keeping the hotel rooms updated.