@Jesse Streng  It’s definitely important to have a dependable person here in the city.

Personally I would defer this question to someone with design experience, not sure I have seen too many on here commenting.You could do something neutral but remember especially with the rug if it is light color it will likely run quickly.

I don't know a single person who regrets starting out with a quad and house hacking.

I’m guessing that is because of your pessimistic view on the economy right now, but even if the markets dip temporarily, based on history, they will rebound to even higher points (I know just cause it’s happened before doesn’t guarantee it will happen again).Personally I have a successful business, but opted to diversify into real estate because my industry is heavily regulated and one change of a law could make me MUCH less profitable.

I take it personally for each client we bring on.

Some hotels actually have a condo like structure, where people can own the units, but perhaps are limited on their personal use to only a certain amount of the year - the rest of the year it is in the rental pool managed by the hotel.If numerous room owners stopped paying their bills, you could get tax liens on numerous separately owned units.Hotels are a tough business, an issue I also see come up with them often is that they require refreshes, expensive and relatively often - at least once every 10 years, if not more often. 

This is not personal, but if a person cannot save money now real estate is the worst investment to get into as it is one of the most cost intensive businesses to be in.  

Agent: Their experience with investing personally and their experience working with customers just like you.

@Jill KellerI personally owned and managed several rental properties, mainly one family, 3-families and been advised by a number of attorneys through the years to forget doing LLC's.

The loan does need to be secured by the property being improved if we are talking about a personal residence and personal itemized deductions on Schedule A.