I have a lot of interest in the boutique hotel space and have found an on-market property near me with huge potential and lower entry cost than any other deal in the area.

Attempting to manage it from a distance is going to cost you a lot more than the PM fees.

Over the years because of California insurance regulation policies, companies like State Farm were unable to raise premiums fast enough in these areas to meet the current insurance costs. 

Quote from @Mica Moore: If you are not prepared, self management may cost you more than a good manager will charge.

(this is called reserves) On a 300k price 15% is 45,000 but you would need closing costs and the required reserves for your particular situation as mentioned above. 

Context: I'm entirely invested in low cost, diversified stock index funds, and I expect them to earn a~8% CAGR on a nominal basis.

Construction costs continue to be out of balance in markets near me.

I wanted to share some of the cost effective ways I know of to buy building materials for your BRRR or rental. * I have a lot of luck with Facebook Marketplace.

The cost was the cost and the contractor let me chose to permit or not to permit. 

How much gross leasable area, how many offices, current vacancy rate, age of building, any proximity to hospital or surgical center, what type of loan product for first lien, variable rate/fixed rate, the terms etc ie SOFR + what spread etc, current NOI, cost per square foot, replacement cost per sq ft, and any and all details you can share, I assume HENRY Capital compensation will be similar to your Fund 1, with 8% preferred and 80/20 split?