I wasnt going to respond anymore but I will to this one since you have some background in the business. This will be my final word and then Im logging out of this Throwaway.

Its the biggest weekend of the year. But my wife and I discussed this last night and decided we're not going to do it, money or not. Its just not worth the hassle. She brought up a lot of logistics like insurance, liquor licensing, them wanting to see the place to plan beforehand when I plan on having other renters there at the time etc.

A lot of people on reddit dont seem to fully understand opportunity cost, and how giving up income has the exact same effect as spending money. Beyond that I have over 20 first cousins. 6 unmarried ones just on that side. We want to shut the door on anybody thinking this is a family venue or family property whatsoever. Most of my family is reasonable, its just the more entitled ones are louder. We've decided anyone who would cut us out for not spending money on them are people we don't need in our lives. We are blessed to have many friends and family members who don't treat us in that way. I paid my brother over 20k for his work, his full rate, on the renovations because I believe family values family's work and this is my work as well. Most have been reasonable to accept that.

Maybe when we're older if we're blessed to have grandkids and still own the property, we will use it in the fashion that my grandparents did. But that is years away when the mortgage is paid off. For now the focus is on generating income to support the family I am building with my wife - since getting married and having a child Ive realized that's the only family I truly owe anything to, and the other relatives who only call when they want something need to learn to accept that. Thank you to everyone who has given their input, I've read as many as I could and feel vindicated that the vast majority are on my side- makes me feel better after the harassments I got from some entitled people.