If a guest stays for one week in July, the owner can't legally rent to another guest until August and must leave their unit vacant for three weeks.

. ;-) There is nothing false wiih what @Henry Clark said.Commercial real estate is broad - Office space, self-storage, Farm, Data centers, residential properties above 4 units, etcIt can be true that one part of commercial real estate is suffering while others is thriving.

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. 

Ask them how many customers they have and how many own a single property vs. many units.

This is next level genius!

Shortly after I purchased a duplex and then a 4 unit and some more in that range before I bought an 8 unit.

In fact, I’d like to turn the primary into a rental and then house hack in a multi-unit.

That’s a Cardone-level play—treat asset management as the CEO of your investment.

I think the unsuccessful and struggling units who have not jumped ship yet will continue to do so, leading to less supply, increasing demand, and a better year for the successful units. 

I tend to do a quick dirty look at a building like JW with price per door, but after that sniff test, I quickly like to understand $Cost/SF and $rent/SF.The way I look at a single family, 2-4 units, or a 20 unit is all different, but the end result is still ROI or IRR (over time).