We knew the land and area were the valuable part when planning on building our cabins for short term rental.

You area also going to get hit with 2.75 points and a 2 or 3 year prepayment penalty.My suggestion would be to take out a personal loan banks are offering personal loans now with no lien.

Finding a lender who offers less than 20% down for commercial properties, especially in areas like Gulf Shores, Alabama, can be challenging.Seller Financing: This can be a viable option if the seller is open to it.

Think it definitely depends on the area.

Here are the details:If the owner lives there, it allow up to 5 unrelated people to live together.If the owner does not live there, it aAllow up to 5 unrelated people to live together only if they are a "non-profit housekeeping unit."

We are looking to add flipping houses and have been diving into learning all about this area of real estate.Our main question is - why not use your own cash for flipping vs. financing?

I live in the area and again I would not touch it.

For it to be considered a legal (4th) bedroom it must be 70 sq ft/ have fire escape so im thinking it would be better to list it on the lease as office/storage space. 

There's not much currently listed for rent in the area.

On your other two points - The ARV is from recent comps in the area in the last 6 monthsThe rent is also very good/decent in the area (from Section 8 tenants) - approx $250/month of cash flow when you remove the mortgage etc.