We also have one LTR in Wilmington , NC that we bought brand new and have an excellent tenant in.  

With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment!

That's going out and getting a brand new car with the expectation that you could sell a depreciating asset for more than what you paid for it.

This could be a reputation and brand killer.  

Class A- Brand New buildings with lots of amenities, good infrastructure & locationClass B- Building are usually older; priced less than Class A & need some updates/restorationClass C- Oldest buildings (20+ years); need significant maintenance; less attractive locationsWhere things become subjective is an older building located in a neighborhood that's changing for the better. 

However, there aren't any comps of new construction in the area beyond land sales on brand new neighborhoods, and existing sales of older 4 / 2.5s are in the high 200s.

I'm originally from BR and am fairly active there. we see a lot of inventory so also happy to chat offline about this

In other words, FB marketplace cast offs won't be the best fit unless you're lucky enough to come by some Pottery Barn or West Elm or brands like that. 

Little did I know even on the brand new wires he was running, he was twisting them together with no junction box!

I'm building in a brand-new subdivision.