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. 

Research comps in the Milwaukee area or connect with a local appraiser to estimate your property’s potential value.Depending on the rental income, you might explore DSCR loans for your refinance, as they rely on property performance more than personal income.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

As investors (buying a home to live in or to house a business we own is DIFFERENT), 90% of sellers will NOT (at least at the present time) accept an offer that makes sense for the investor.  

Open a business credit card and do your renovations on that (for things that you cannot get financed with a hard money loan).

Once completed, the goal is to get them rented and then pull money out of each house to build a high performance spec.

Just wanted to avoid mixing family and business  

But sure as heck not impossible, it just takes a commitment to learning a very complex detailed facet of business and regulations. 

To clarify, I have been studying real estate for several years, but have been otherwise engaged in operating  other businesses that my wife and I both own, both as CFO and CEO roles.

Purchase price: $140,000 Cash invested: $55,000 Sale price: $255,000 My business partner and I took on this Arlington property as a fix-and-hold investment.