Depending on if you want to use any of the equity from your home to find retirement or if you want that all to be put into the house may also change your strategy. 

You can find out nightly rates, occupancy and amenities.

These notes start at $50,000 to over $200,000 and feature an annual interest rate of 12%-16.7%.

Also the hit rate per property is really low.

Connect with lenders and brokers, see what rates are out there, underwrite the deal and see if it makes sense after debt service. 

Since you haven't started the project yet, use this time to network with lenders to see who offers the best terms....seasoning, rate, leverage and pre-payment penalty terms. 

Look, we’d all like to search the internet, find a deal for sale, analyze the property as having a great cash flow at current interest rates, with lots of upside potential in a gentrifying market.  

In 1972 the 30 year mortgage interest rate was 7%.

Immediately the recommendation changed and now my inspector leaves no stone unturned.

The biggest pro, is typically you will have a higher rental rate, if your home is already furnished and you have no place or desire to store it, it might be worth it.