The general consensus as that interest rate risk won't make this an attractive option for most people.

They are there on time reliably, do a good job managing inventory/off site laundry, and generally do a good job cleaning overall.

However, these properties generally have a lot of land improvements that qualify as well as certain portions of electrical, mechanical and plumbing that can qualify.

For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand. 

I use this for tax and insurance which all properties have)Expenses (general business like admin/legal and by unit for repairs, trash, utilities...)EBITDA (earnings before interest/taxes/depreciation/amortization.

All kidding aside, I do believe you have the general sketch of a marketable SECURITY.  

How did you find your general contractors in Philly and Baltimore? 

I have heard that, historically, midwest markets generally are considered cash-flow markets, as opposed to appreciation markets.

In general, if you have a typical condo unit the HOA insurance covers the exterior structure while your insurance covers the "studs in."5.

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.