Creative Financing for a Traditional Inn with Owners' Quarters
Hello,
We are new to Bigger Pockets and so far we have only invested in LTR with SFH. We are now considering purchasing a traditional Bed&Breakfast/Inn in Maine. The properties we are considering have separate owners quarters on property that we would live in. Our initial idea is to keep our current home, which is a single family, and title it under our business to rent out long term. We would then, ideally, move to Maine, live in the owners quarters and run the Inn as a business. To us, this seems like a form of house-hacking, but are very unsure of our investment options! Of course there is plenty of information for more traditional financing, but we really do not want to give up 25-30% in cash since the properties we are considering are $750,000-$1.1 million. We both have W2 jobs and my wife would be able to keep her W2 job and work it remotely. Any ideas out there?
Thanks for your time!