Our closest competitor in Smithfield has achieved an ADR of $140 and RevPAR of $105 in 2022 and 2023, leading us to believe that a new mid-scale extended-stay property can achieve similar numbers.We welcome any insights from those in the hospitality industry on any aspect of this project.

However, it’s crucial to ensure that the HVAC system is adequate for the space to avoid high energy costs.Flooring: The hardwood flooring adds a high-end touch but will require regular maintenance to prevent scratches and wear.

Understanding your tenants and their needs is crucial.

State-Specific Laws: What are some crucial state laws regarding tenants' rights and landlord responsibilities that I should be aware of?

When evaluating potential investment properties, it is crucial to have an accurate estimate of the rent that the property is likely to generate.

Am I missing some aspect of creative financing?

In this situation, it's crucial to review the original agreement they signed with the real estate agent.

Those things are crucial to riding out a ression IMO.  

I want to keep the tradition practice aspect of the range and provide more amenities.

After establishing this, the next most important aspect of this land would be its zoning and restrictive covenants.