:)They didn't give me a specific amount I could borrow, they just told me that I could present to them a "plan" and for that plan to make sense. 

Please replace the first six example values in the form below to calculate the Total Estimated Costs, the Estimated Loan to Value Ratio and the Estimated Cash Needed From the Borrower to Close as it might pertain to your deal.

Wayne Brooks I agree that this landlord made a bad choice in choosing tenants.

The National Association of Residential Property Managers.Here is a list of questions to help you narrow down your choices.  

Consider many options before making your final choice. 

I thought there was a seasoning requirement of 6 to 12 months.In other words, be able to refinance cash out (since it was purchased in cash) 6-12 months after purchasing.And fyi I think you picked the best choice... going with 70% LTV so you have more cash on hand to continue investing.

What you are describing are really three choices. 1& 2 are both passive investments. 

Success is a process, failure is a choice

I recently discovered I can borrow against the property to get cash for down payments on more rental properties.

Ground-up hotels or really any development project has much more that can go wrong in most instances than a hard money loan on a fully-developed project with a solid borrower.