Hotel conversions pros and cons

[Kyle Varga]

I'm looking at a run down hotel that's been vacant for years. Seems like the perfect conversion to affordable efficiency units.

I've never done this type of conversion and would love to hear what the pros and cons are of this type of deal.

I know it's risky to have all one unit type and they are small just 384 sq ft per unit. But the numbers just seem crazy good even with a higher vacancy/eviction costs of affordable housing.