We've built a model for Northern Nevada that analyzes ever single family and multifamily property on the market and ranks them by cap rate. 

CASH FLOW in RD is excellent they provide great cap rates.

Probably for the better the city recently instituted a CAP on new licenses.

It sounds like he believes CAP rates have a significant chance of going higher still given most likely conditions.Hospitality can be highly risky as some asset types can be heavily affected by a recession and corporate travel restrictions. 

The condo will be worth less once the Hoa goes up.It will take you 5+ years to earn the $75k in additional cap gain taxes you owe.

I got to ask these investors that I have been following for years industry specific questions .I asked Brian Murray and Brandon Turner market specific questions regarding cap rates.

In summary you need to be committed for the long term which can get tough when rent barely covers PITI at purchase and you get a large cap expense.  

You might have to lower your cap rate expectations in the short term, but it's worth it for better long-term gains.

Search for properties in line with your spending plan and investment objectives.Property analysis: Examine possible single- or multifamily properties to ascertain their overall investment viability as well as their cash flow potential, cap rate, and return on investment (ROI).

The latest conversations at the city council meeting was about the various aspects of enforcement, part of the plan is to require the vendors to place Caps on accounts that rent in areas where this legislation has passed.