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Beachside cottage You have inherited an old beachside cottage. You have visited the site and made an inspection. The house needs a great deal of

Beachside cottage You have inherited an old beachside cottage. You have visited the site and made an inspection. The house needs a great deal of repair work to make it liveable. You have itemised the most important things that need to be done and think it will take a team of workers about 2 weeks to complete. You plan to use this house for vacations and as a rental property through Airbnb. In fact, some of your work colleagues have already expressed interest in renting it soon as the property is finished. You have obtained a loan from the bank of $20,000 - that believe that will give you enough money to buy the supplies and have a spending budget with help from a local contractor and two apprentices. You yourself have committed to working 80 hours over your vacation to fix up the house, but you are unskilled at carpentry. Your vacation of two weeks starts on Monday the 1st of June, and you prefer to be present when the contractor is on site. Assume you, the contractor and his apprentices1 all can work up to 8 hrs per day, 5 days per week. You expect that within 2 years of renting the property you will have earned enough money to repay the bank loan.

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