What kind of nightly rates, occupancy and amenities do they have.

You likely make $200 an hour or more.I personally would not dabble in another activity(beng an agent) where you may not have any experience and start off making less than $20 an hour.Yes, good agents can make more but I am just trying to emphasis the change in your hourly rate.

Hey @Karthik Natarajan:The Franklin County Tax Assessor website (https://www.qpublic.net/ga/franklin/) will tell you the current assessed value of the property, the tax rate (i.e., millage rate), and estimated property tax.The Franklin County Tax Commissioner website (https://pay.franklincountyga.com/) will tell you the actual property taxes for the current year and previous ones.

This combination of affordability, economic stability, and location makes Parma compelling in my research.Taking a deeper dive into the rental market here, I thought this could be a unique investment opportunity because despite a seemingly low occupancy rate of 23.90%, the rising rental rates highlight a robust demand for single-family homes (SFH), presenting a lucrative avenue for investors like us. 

Everywhere in the country will be different with labor and material rates .

rent by the room, rent by the unit (small MF), rent out an ADU, etc.If you plan on renting by the room, then maybe more square footage and potential rooms to rent.If it is small multi-family, then you can look at similar size rentals to see what their market rates are or use programs like Rentometer.com or BP rental rate calculator. 

He does have good terms on his HELOC because it's older and a better rate.

I'm looking for a new lender for this HELOC product and I see this as the only solution if I'm going to keep my low-rate, first position mortgage intact.

Given that we like skiing as a family activity and wouldn't mind moving to Colorado at some point this seemed like a potential option.Where I'm struggling on this is that it seems that the economics don't really make sense given property prices, mortgage rates, and occupancy.

If you give them $1M and you collect $100k in interest, that interest is taxed at ordinary income rates.