Does anyone see anything wrong with this plan about buying hotels?

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This is fast forwarding abut 5 years until I can have the down payment and qualify for a loan for a hotel. I would be looking at hotels in the $4 million dollar range. Currently, there are hotels at this price that profit about $1 million per year.

I will do this once. Then, I will use the income to save for more down payments and qualify for more loans to buy hotels that are slightly larger. I will continuously work my way up until, 30 years from now, I am buying $300 million dollar hotels.

What do you think?

I know lenders that work on stated income, so I do not need two years of tax returns to show a bank.