Converting motel to apartment complex

[Bryan Satter]

I recently put under  contract a 20-unit motel in rural Tennessee with the intention of converting the units to studio apartments. The fix ups (that I know of) include adding kitchen efficiencies to each, replacing carpet with vinyl flooring, painting, replacing a roof and adding laundry machines. 

I am in the midst of due diligence period as we speak. Anyone ever take on a project like this before? I have a million questions and I am hoping to get them answered in the coming weeks. If it works out, it could be a cash cow. If it doesn't, could swallow me up. I will only proceed if I have all my questions answered to my satisfaction.

But any advice/insight/experience to this type of project is greatly appreciated. You can always DM me as well to discuss as I am sure I have 100 questions if you are willing to chat!

Thanks!!