I've been keeping my eye on muskegon because the inventory is much more favorable than Grand Rapids, and I know they are working on improving the city. let me know if you want to talk and good luck.

That way you can continue to get favorable refinancing terms while building the 1099 paper trail.Good luck!

Think you mean how "little" you can pay.If you have no experience, do yourself a BIG favor and get a broker that does motels. 

Would it be a good idea to look at those factors at a different angle using something like creative financing to turn the numbers in your favor?

Do yourself a favor and buy your rental first.

If they are keeping the place clean, paying consistently, and trying to make it work, I would return the favor and try to be flexible if possible. 

Understand the market your property is in so you don’t over leverage yourself if the economy isn’t as favorable as it is now.

I believe people worried about their health will favor STR versus staying in crowded hotels.

The seller did a good job of maximizing rents and had the highest rents in the area for comparable assets, so the deal underwrote very favorably.

I look forward to being able to return the favor as I gain more experience!