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

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. 

Review the seller’s maintenance records to identify any existing issues or potential problems.Do your financial analysis to factor in the current rent, estimated vacancy rate, maintenance costs, property taxes, and insurance to determine the property's projected cash flow.

The electric company installed the new meter for free after giving me a credit for adding laying the conduit required for the 200amp to 400amp upgrade.As for the 1/2" (non fire code) gyp, my understanding of the code is that a 1 hour rated assembly is required between "dwelling units."

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.

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.

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.

Thx Bruce, Sorry, not sure how the 2% interest rate idea snuck in there.

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