If you sell two owners weeks a year and apply them against the note as well as all Moorings funds you should not be upside down on the note. I made a profit on both Moorings boats I have owned. The current boat based on agreed trade in value has well over 100,000 in equity above our down payment and the remaining note. My first boat was cash positive over 60,000. The key is all revenue needs to go against the note. If you finance on a 15 year loan and put the monthly excess in your pocket you will be upside down.
G