@Susan Thelen it’s likely easiest you do this in excel so you can easily modify variables and test the NPV sensitivity.

Step #PhaseStep1DiscoveryTalk to experts and learn (process, tips, design tips)2DiscoveryCreate social media and document story3DiscoveryGeneral research - budget considerations, financing options, permits, regulations, tax considerations4DiscoveryMarket research - competitor analysis, analyze guest reviews, market trends5DiscoveryGather ideas/inspo (blogs, articles, youtube)6DefineCreate brand and vision7DefineCreate guest requirements (e.g. coffee maker, natural light, near activities, etc.) and prioritize must have, nice to have, etc.8DefineSketch idea for look and feel (architecture and design) - map out the floor layout9DefineConsult an architect (is this needed?)

During the session, they will ask you for financial information (nothing sensitive) under the guise of seeing what type of loan you are capable of getting. 

Naturally we are a bit nervous, but we have solid exit strategies in place which helps to reassure our confidence!

Naturally, there's no universal solution, but I'm more than willing to share with you.

The nuances of mortgage lending are constantly evolving and time sensitive.

I cant tell you what to do , but investing in rentals over the long term has been great for me , some times there are more repairs , sometimes less , but thats just the nature of the business

We might not live like it, but we are interdependent on our environment and nature.

More than anything this will exclude you personally from claim history (some of which is without merit and is the nature of the litigious society we live in). 

That code section states:(1) “Prospective owner-occupant” means a natural person who presents to the trustee an affidavit or declaration, pursuant to Section 2015.5 of the Code of Civil Procedure, that:(A) They will occupy the property as their primary residence within 60 days of the trustee's deed being recorded.