However, I was lucky enough to be put in contact with our area hospital's HR Recruiter who has had a few of their corporate employees stay at our properties.

If this is your first real estate purchase I would stay away from auctions, there's too much risk involved especially with where price points are in your market.

It's not good to burn bridges in this business, and we agents do a lot of free work that we never get paid for.

If it's going to be a bonus space for your rental, or you want to keep a very unique and vintage vibe going, and it's not operational (say it's a gas fireplace and you cut off the gas to it) then it could stay.

There ain't no such thing as a free lunch. 

You get to harvest the equity tax free.

I don't follow that type of lifestyle and I stay away from people that gloss over it.

I guess a few others could have stayed to encourage and educate the new investors for whatever reason.

ROI can vary, but some parking lots have great returns with minimal upkeep—just be sure to research zoning laws, demand, and operational costs before diving in.Good luck with your decision, and feel free to reach out if you want to chat more about any of these options! 

I am looking to purchase an extended stay hotel.