How to break into the hotel business?

[Patrick Philip]

I'm currently just starting out wholesaling and rehabbing. I have decided that if I'm ever going to do any buy and holds, they will be hotels. Am I correct in assuming the I should still use the BRRRR strategy? And buy a distressed hotel? Should I be direct mailing or should I look on sites like LoopNet and TotalCommercial? What should I be looking for in a hotel? I have been told that I should first become an equity partner in someone else's project, but I'd rather not tie up that cash if I could get it all back through refinancing.

What's my best strategy to start investing in hotels? Should I stick with flagged hotels only at first?