I am also just interested in general in the hostel/bed and breakfast type of real estate.

I have a duplex in a worse area with 2 bed 1 bath each side. 

4 units all three beds$575,000All CashRents of $1,800What makes it good for us?

There are more than a few dozen detached single family homes avail w/ 3+ beds & 2+ baths priced from mid $300k to mid $500k and rooms renting @ $500 + / month.

I also plan on developing an ADU to permit 2 + beds 1 bath unit and community improvements such as installing solar panels, specified parking areas, common areas, a community garden (for tenants only), and rehabbing each unit to force appreciation.  

With the proper Bed/Bath floor configuration you could rent out rooms.5. 

I am watching him because he has some great insights and his failures will keep me from making those same mistakes.I'm doing my first STR in North Phoenix (Near Scottsdale) in a $725,000 5 bed 3 bath full house with pool that I bought and I'm using high end design, so my experience will be totally different than his.

I currently have a 5 bed 3 bath home, that I plan to keep, and turn into a rental, as it will easily rent for more than my current mortgage.

Keep in mind you are responsible for the utilities, internet, upkeep of furniture, bed sheets, etc.

And yet, had a guest call me one time and said the beds werent made and looked like used towels.