. :)Rents will likely track with overall consumer inflation, but you mortgage payments are fixed, so the more inflation, the bigger your profit margin.Interesting times, for sure.

You can now house hack that property (live in one unit and rent out the others), and you have ~100k to start investing with - after you pay off your consumer debt. 

It was our first deal and we wanted to take action How did you find this deal and how did you negotiate it?

Lots of posts will tell you to "just jump in", "take action", etc.

No recourse for us, only option is to reschedule and sit there and pay another 3 weeks of holding costs.Going back to the original question, you own the project, the payment schedule, and ultimately the actions of everyone involved in the project.

I would take action and start developing your core four (agent, lender, pm, contractor).

In the end, yes, everything depends on how much you want it because for anything to happen, you have to take action. 

Is there any action I can take here, or do I simply chalk it up to a learning lesson and don't let it happen again?

Get clear on what you're trying to accomplish, set goals that fit that vision and take daily action to get there!

Vacation rental products: Some banks are buying into the short term vacation rental action so long as the prospective property is miles away from your home of residence.