The basic run down for a hotel/B&B would be this...50% - 1st mortgage provided by bank30% - provided by SBA (SBA will go up to 40% but because it's a new business they add 5% & ding you for another 5% because it's a single purpose asset (hotel)).  20% - down from borrower Full Recourse for any borrower with 20%+ in equity stake The 50% bank piece term & rate are somewhat up to the bank with a few exceptions.  

That seems reasonable to use the equity line, except if the economy drops again and they call your line due.

Jacksonville, FL nails your description except for the public transit part.

I spent 6 months in Dublin 1981 during Bobby Sands and Hunger Strikers ordeal, not fun.But onto building a business.Watch the crowd, go in the opposite direction.I am coaching agents to do lease option assignments all over the US.Inventory is low.45% of buyer's applications are turned down.realtor.com says New home sales are up, low inventoryhttp://www.realtor.com/news/january-new-home-sales...Many agents if they do what they are doing now will be tending bar.Get into helping -Sellers sell with top price on Lease 2 Own, no commissions, no closing costs except for 3%.

If none of the offers are excepted, l will either build new or buy smaller properties.

Anyway they approved up to 65% ARV with 6-7 points to be rolled into the loan (except for a $995 processing fee with those points) and at a 14-16% interest for a 1 year note.

If not, will a special exception be needed?  

However, as others have said, you write off depreciation, benefit from appreciation, profit from rent increases, and watch your mortgage principal get paid for you.With the exception of the condo boom in Toronto, you've probably noticed that rental housing inventory is generally tight in Ontario.

While there are ALWAYS exceptions to the rule, I've seen a number of projects that cost the developer more than it should have because the drafter did not understand the code and so the project either couldn't get a permit or construction was halted due to code violations.

If you have done nothing up till this point except study then your next step is to take action.