I've started a side-by-side comparison of all the areas mentioned to narrow it down a bit.

The value should be determined by comps that they deem comparable and the adjustments that are done that reflect a true comparison between the subject and the comps.

It seems like this would be the best way to compare lenders but I'm concerned about all the hard credit checks that would result from doing this kind of comparison shopping.

And also including area comps for comparison.

Doing a bottoms up budget is difficult and so I would recommend amassing a "library" of hotel P&Ls you can use for comparison purposes.Good Luck

@Jason Eyerly  I was trying to do the 70% 30% before I asked a RE Agent/Broker to help me out, the numbers were just not adding up, after she looked it over and then got me some comparisons we determine the best course of action at a lower price, once we figured the ball park price would be at, the numbers started coming together to where everyone would win, but he didn't want to play ball lol...

. - I like the comparison of real estate investment returns to bond quality.

I sometimes want to ask these agents to just set me up on the MLS so that I can do my own research and comparisons.  

Take a look where you live, see rent vs own comparison, account for all the things after tax and see if it makes sense to get your own pad.As Elizabeth said, you can get an FHA with 3% down or so (see the limits for your county).

I am always looking at investment comparisons and learning new things so this is more discovery for me at this point and possibly future planning although I already have a deep network of clients and friends into the nine figures of net worth.