That's not a good feeling, and most people and REI have experienced it in one way or another.I think you should try to combine both options 1 and 2.

Snowed in this morning, I'm sure you're experiencing the same.

So my recommendation for you: learn and lean on experienced-others for advice, but know you have to make the plunge at some point and that you will likely not hit a homerun but rather experience an intense learning opportunity.

An experienced and knowledgable agent is worth their weight in gold.

I expect the numbers to climb back to earth a little in the fall, but the region has definitely experienced a lot of positive growth and publicity in the past year, so I believe demand will remain robust.That said, underwrite conservatively to make sure your numbers work at a low occupancy rate/nightly rate and be pleasantly surprised when you do better!

However would like a little bit of confirmation i suppose to build confidence as well get pointers of what ive missed from the experienced.   

3) Have an experienced, reputable contractor provide input on what it would take to get it right.Is it going to cash flow great as an investment in the meantime??

These are experienced investors that raise capital through private investors, they buy the property, you share in the return.

I'm interested how other REI view or have experienced this dilemma of words.

So a tip I received from more experienced entrepreneurs is to keep meetings at a high level.