Got paid for it and really enjoyed it, but that same amount of effort if done for us would have taken us to some really lofty levels.My friend is extremely happy.  

While the property is in a smaller town, it’s relatively close to a larger city, which I think adds a lot of potential for attracting both short-term guests and long-term tenants.The motel has fewer than 16 rooms, and the nightly rates are extremely competitive for the area.

This property needed an extreme amount of clean up and haul away of items left behind.

There is some financing available but it's rarely used, as it's extremely difficult to make a deal profitable given the lending conditions.

Quote from @Max Ferguson: Quote from @Jay Hinrichs: Quote from @Max Ferguson: I'd be interested in hearing about it, but I can almost guarantee if you aren't extremely well versed in the local market you will not find an end buyer.

Quote from @Mark Wooldridge: A super concise and accurate summation of the SFR & MF property market - only thing I could add to that is how extremely low interest rates (historically) caused valuations to increase at a faster rate than they would have otherwise. 

2) I bet you could draw that same or even more extreme graph for new car prices.

And if you base an offer price on that, you'll likely have an extremely difficult time getting any traction. 

Vetting the tenants and following local laws is extremely important.If you don't own a primary residence, would you consider house hacking (buy a single family and rent out the rooms or a duplex and live in one side/rent the other?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!