A decent low cost breakfast, luggage storage, safety boxes, daily activities such as bar outings, outgoing staff to engage with the guests, and a good cleaning department will have you as top hostel on Hostelworld in no time.

Saskatchewan supplies the world with a tremendous amount of food, and I can only see the demand for this land growing as populations grow across the planet over time, which equals more mouths to feed.

I also have access to a relatively substantial amount of HELOC money, we keep it as a safety net, but would it be wiser to draw that down and use that for the down payment?   

I appreciate the food for thought, that given my lack of experience with accounting, I may still be paying to have my books cleaned up if I decide to manage them myself.

Just some food for thought, even if you don't cashflow, you break even, or still owe some money at the end of every month, your net worth return on investment (NWROI) is typically still awesome!

Food for thought...For someone seeking to learn the space, there are several directions that can be taken. 

I don't know CA law, so just food for thought.

That's awesome I have lots of friends that are from Dominican Republic back home in New York I really Love the food and culture & am hoping to travel there one day.

Another thought process is that the seller could have simply refused to vacate but instead is willing to give us a safety deposit and a monthly rent and hence is not thinking of staying without our permissions.

Births tend to create windfalls of additional population and job growth into an economy through increased consumer spending into the local economy (bigger houses, more cars, more food, more clothes - all of the jobs needed to support that).