we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

How are common area cleaning, landscaping, snow, garbage, laundry, etc. being handled and by whom?

Watch some YouTube videos and role play with someone on the common objections (price, how assignment works, etc).

Having a local registered agent is fairly common.

We ran a report on the most commonly requested amenities for our cabins in the Smokies.  

While this isn't common, I have know people that bought their first rental and when tenant moved out, had caused close to $20k in damages and skipped town after one year of living in place.  

Lower loan amounts are common here in the Midwest…~$50k loans aren’t unheard of, just depends on the whole scenario on whether or not it makes sense to do

It's pretty common to do this if you are buying something at auction or with a seller who is not allowing any windows for financing of any sort. 

Because of common marketing strategies by the industry, their expectation is that a lender will provide a loan at 70%-80% of the value of the asset after its been repaired, upfront.

This type of requirement and excavation work might be more common in other areas than it is mine.