there is an argument to take the equity and buy a large managed property. 

Flatline population growth is a sign of a poorly managed state and large or soon to be large, government debts (e.g., Illinois).

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

However, I manage about 60 houses so they want to keep my business. 

Start by going to www.narpm.org to search their directory of managers.

I bought 8 properties through REI and then bought one on my own in an area REI manages (so 9 total that REI property manages).

However, I’ve been hesitant due to challenges like remote management, high interest rates, and low cash flow.

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. 

I do not use a property management service to advertise and have always used Zillow to advertise, previous references, housing records, credit checks etc

I have personally purchased large apartment complexes from REITs and know how poorly some of them manage their properties.