Is this event still taking place regularly? 

They sleep 3-4 people. 

Have the workmen start with that unit (where you sleep) (and all other non-rented units), then when it's almost done move out and put a renter in and move to another un-rented unit.That way you have  local base of operations and can manage the rehab as well as manage and hire a manager and maintenance for the place, while managing the (one you know better) back home by phone.If you can turn a "Down Unit" into production with a renter living in it, in 20 days, consider yourself to have a good team (unless product shortages are an issue, or permits take forever there.  

FHA is good too... but you end up paying some pretty hefty Mortgage Insurance Premiums (regular Mortgage Insurance for a conventional loan is generally lower). 

Vacation rental property managers are much more expensive than regular rental property managers. 

They just need a place to drink beer, cook food, do laundry, shower and sleep. 

Many people would want to “reward” themselves lavishly and regularly for working like that.

There is a group of a dozen of my regular STR tenants coming here in a week. 

The requirement that you not personally guarantee any loans taken by your IRA/401k is a corollary of this rule.UBIT/UBTI/UDFI: Traditional IRAs/401(k)s are tax-deferred and Roth IRAs/401(k)s provide tax-free earnings - with regard to "regular" income tax.

The deal with the non-performing note is to purchase at a substancial discount and try to get it performing again so that you either have a performing note that pays regularly or sell it in a few years as a re-performing note(lots more than a non-performing).