There are a few things that can improve, but overall the financial side seems fine.Buildium is okay, but they are limited to what banks you can sync with.I love Yardi Voyager 7s, but the down side of it is the lack of bank feed, it is nonexistent.

I've heard it recommended to tell tenants that you are the property manager rather than the owner because it can improve your relationship and they are less likely to come after you (Note: we currently don't have any issues and don't plan to, just being cautious). 

You have very little control over the use of the property, the HOA and costs, especially when it comes to capital expeditures and improvements. 

It is a continuous process of self improvement and growth.

You should have contacted NACA and got permission, they subordinate if you are doing subject property improvements. 

You paid $2m for it two years ago w/ 25% down (it was suffering from mismanagement and deferred maintenance), invested $325k in capital improvements, and it's now valued at $3m with an NOI of $195k (cap rate assuming $3m value is 6.5%).

Hello, I'm not the best source for design tips, but as a broker/ lender the biggest value adds that you can get on rehab projects come from improvements to the kitchen and bathrooms.

You are correct hotel underwriting typically has vacancy built in for cosmetic updates but in this case it appears your improvements far exceed keeping the hotel rooms updated. 

They're also focusing on improving roadways and infrastructures to bring in new businesses to that area. https://sanjuanedc.com/another-project/I do advise to look at each cities economic development sites.. they offer a lot of information as to what projects will be coming to those areas and it'll give you more or less an idea as to what city you'd like to invest in. 

Plus, if rates drop later on, your position will only improve.