His operation was eventually shut down by the county which resulted in him selling the hotel to the current owner.

I know this will come with a higher interest rate so it will result in some cash flow erosion, but I'm thinking it makes sense to pay a bit more for the protection?

I went through several banks and credit unions before finding a bank with a decent interest rate and matching their pre-approval qualifications.

Be sure to state buyer takes possession at closing and any delay will result in a $100 per day cost to the seller

This is the part that needs more details on your specific situation.As far as setting up the partnership and the k-1, I have looked into that and basically between my attorney, my accountant, and myself, we determined that would only result in higher fees to the IRS for more returns, higher fees to my accountant for more returns, and higher fees to my attorney for the legal work associated with setting up the separate entity.

I am hoping to find someone that has good results in renting quickly and maintaining consistently.

Model it out using spreadsheet below and then show the results to 3-5 banks and ask them if they would be interested in financing such a deal. https://www.dropbox.com/s/aw0w31nrl06pxam/6331%20Beard%20Ave%20N%20stabilized%20valuation.xlsm?

I am hoping to find someone that has good results in renting quickly and maintaining consistently.

This results in a monthly profit of $427.

Social Security numbers resulting in the number of identity thefts associated with that process.