Because evaluating for cap-x and maintenance is far simpler and easier in that lens, and the vast majority (97%+) do NOT correctly compute for cap-x beyond there and get themselves into issues of a "good investment" turning "bad" because there optics didn't have those factors and year 8, 10 etc a daisy-chain of cap-x starts landing without reserves pre-planned to cover. 2.

There are MANY lenders that can offer competitive rates when you are calling and shopping around, but it's no good when you pull the trigger, order the appraisal, go into underwriting, get the run around and then end up a few days before closing, having to close on terms that are vastly different than what you were anticipating.

I am trying to purchase  a vastly underperforming boutique hotel/resort property and was wondering if you have any experience in this area?

I'm not a lawyer, so I don't know what I don't know.Looking at the vast number of court cases in the public database, I find only one property our of several hundred that appears to be represented by the landlord. 

Unlike, an independent GC, who undertakes a broader array of projects, Curbio’s project experience will be more uniform and consistent over time (e.g. focusing on a core set of projects, with similarly attractive traits: impactful; reduced complexity; reliable sourcing; etc.).The “as-is” investor approach that you describe should work, as you would have all of the criteria necessary to be deemed a “qualified-prospect” for Curbio, e.g.: sufficient equity to cover a min $15K budget and ample up-side potential to deliver a sufficient positive ROI.

The vast majority of programs do not allow for layered LLC's. 

Lenders Account for Your Real Estate Liabilities, Even If Not Listed on the REO ScheduleThe vast majority of DSCR loans are personally guaranteed, they will still be noted in your overall financial picture, and lenders will factor in these obligations when calculating your true cash flow and risk profile.Even if the title of a property is in the name of an LLC and the property is not listed on the Real Estate Owned (REO) schedule of your personal loan application, lenders will still account for any personal liability associated with the loan.

virtally all hard money loans are secured loans.. vast majority in first position.

I am licensed in CT and NY, but the vast majority of my practice is in CT.

The vast majority of loans are Conventional (Fannie/Freddie), FHA, VA, or USDA, and are directly or indirectly subsidized by the federal government.