With that being said my uncle who also invest in commercial real estate ( he does a lot of hotels) was impressed with the deal I found, the analysis and how organized I was.

Typically you'd only calculate long term rent when you crunch the numbers, but Santa Barbara has a shortage of hotels/places to stay, so airbnb/short term rentals, like @Rohme Williams said, should be a solid bet.

Other houses are $300K + and the only other available option is an older hotel with 18 rooms. 

The Alyeska hotel is getting a beautiful expensive upgrade, which should bring in more tourists to the area. 

Below is a chart showing the average reclassification percentages by property type.Apartment Building - 20-40%Conference Center - 25-35%Fitness Center - 22-45%Assisted Living Facility - 22-45%Golf Course - 28-60%Theme Park - 16-22%Grocery Store - 20-45%Hospital - 28-40%Auto-Car Dealership - 29-35%Hotels - 20-40%Research Facility - 22-45%Manufacturing - 20-40%Warehouse - 20-30%Medical Office/Clinic - 22-35%Resort - 25-45%Mixed Use - 20-40%Leasehold Improvements - 20-80%Office Building - 20-30%Retail Strip Mall - 18-40%Winery - 18-25%Restaurant - 20-80%Bank - 30-45%Are there any other types of properties you would like more information on?

I will budget having to pay for their hotel stay if necessary.

Have an opportunity to buy a $500k hotel in an area that has some outdoor attractions and off a main road.

They’ll patch things that should be replaced, delay the repairs for days hoping you’ll get sick of paying for your tenant’s hotel room.

I know someone in Phoenix doing hotels to apt's and it has been quite successful but challenging. 

They’ll wait you out on big repairs while you are forced by tenant laws of common decency to put your tenants up in a hotel, just don’t do it.