Help with decisions about a carried back mortgage, vacation rental/primary residence.

I like reading the opinions & ideas here, so thought I would ask for any thoughts on these options we have.

Last year we sold 2 houses & retired  to Florida, much to the joy of my wife. Me not so much. I sold my shop, lift, sheds, barn & huge garage. 

Anyway we bought for cash a hurricane damaged golf course Villa in a small beach town. The intention is to make it a short term vacation rental from May-October. We find this time here miserable due to heat, humidity & bugs. So during this time we will travel in our diesel motorhome & to Brazil which my wife is from. We just have a few more things to fix on the house & build a shed which we don't even have.

The 2nd house we sold, we carried the loan because it was paid off, really old, a great rental & our friends rented it. One family rented the house & another friend rented the big shop with the lift & they all shared the barn. I wanted to allow them to continue renting so we sold it to an investor which allowed them all to stay. So we receive a monthly income from this for 4 more years. Then the balloon of $165,000 is due.

Considering selling the contract to get a lump sum to be able finish all the repairs. There will be a discount but I figure if we can get everything fixed, shed built and things ready to be a vacation rental starting in May it would be worth it. The income for rentals here is crazy $400-$500 /day. I know we can't expect 100% occupancy but will be a good income for when we are avoiding the summer heat. This would make up for the discount plus save & invest a big part of it. 

A home equity on our current house isn't an option, we're done borrowing $$$. My wife hates debt. Growing up in Brazil her father taught her that if you don't have the cash,, you don't buy it.  We've never even had a car payment.  

Any thoughts?

Here is the golf house.

Why give up any money?

Borrow on the golf house.  Pay that loan off when the balloon comes to you in four years.  Interest rates are very low now.

Check with trustworthy people whether it will rent a lot from May to October.  That's not a big tourist season in Florida unless you are right on the beach...

As always ,  YMMV

I know it would make sense to borrow,  but we just hate borrowing. 
It's in the Florida panhandle & in the Summer the towns here are packed from the Georgia, Alabama tourists. The rental companies say & showed us data of the summer rentals & it's impressive. This is the only house right on the golf course also. 

I have lived in the Florida panhandle since 1967.   The last place i want to be from May to October is the Florida Panhandle.  

I understand the zone along the beaches (30-A etc) has high summer rents, but the farther inland you go much less so.  Golf Course helps.  Will renters be allowed to use the course?

I'm not a big fan of borrowing either.  But in your scenario you are choosing to take a loss to avoid borrowing.   (?)  

So you know of the miserable heat/humidity. What do you do during the Summer? 
I don't see how people can live in it. Moved here from Idaho where it can get hot but it's dry & the shade actually means shady & cooler.
It's 5 minutes to ocean kayaking & 10 minutes to sandy beach which can also be driven on. It's a public course so yes they can use it. I can work out a deal for them also since my friends run it & I fixed their irrigation after the hurricane.
My wife thinks that there is nothing worse than borrowing. So the peace of mind to her & then to me is worth it to a point.  
I just want out of here from May until October. It's great right now, can't beat it.