@Brant Jones the problem is that the seller has pledged his collateral to the bank and while it is technically possible to deeed a property, the title company will raise a red flag, because the lender is not paid off and has a lien on the title.I have seen a lot of deals in the last 12 years, but never one of those..Here is what I would do: a lease with an option to purchase.

Howdy NickI would start by reading the applicable municipalities zoning code and doing some measuring of the site.

The land must also have very limited zoning restrictions.

I don't mind starting new leases, but I usually get a large deposit so that it would take me 2 or 3 months of no rent before I go into the red.

Value add is my comfort zone.

-Will require re-zoning, talked to the city and a land use consultant seems like it is do-able in a 45-90 day period (kept contingencies on during this process with optional 30 day extension)-100+ rooms, Each room is 470sq ft approximately(so this will be studio or 1bed apartments), with some suites bigger -Not sure what to do with conference hall and restaurant-Will be hiring a consultant to do the re-zoning (since I'm an out of state investor + this is my first time doing rezoning).

Opportunity zone builders, a lot will just pay you for having the arrangement.2.)

Maybe I personally need a certain school zone.

...From 6 times zones away in Hawaii.

I wouldn't do it either, but call zoning to see if it is allowed.