If you don't already have a preferred 1031 intermediary to work with, we'd be happy to give you a free consult whenever you're closer to making a decision. 

The franchisor does marketing and helps with distribution to fill the hotel rooms as well as setting and enforcing brand standards.Banks prefer flagged properties because the franchisors enforce standards and these properties tend to benefit from their franchisee relationship in filling rooms.

Quote from @Neil Warren: what are your thoughts/experience with turnkey for startingIf it's your first investment property, turnkey is the preferred method to learn and not expose yourself to unnecessary financial strain. 

We have some properties we own and prefer to not rent but are very interested in holding the mortgage long term.  

We no issues closing in an LLC, as a matter of fact most of my lenders will prefer it (assuming it is not your primary residence)Assuming it is not your primary residence, the easiest way to do this deal would be through a DSCR Loans.A DSCR Loan will use current rents or market rents if the property is vacant and personal tax return from you would NOT be required.It also referred to as a No Ratio Loan because your personal Debt To Income is not important.What is important is that the property can pay for itself.If we keep the LTV Low the rate for this loan can be better than a conventional loan.If you ARE Living in the property and you want to keep it... it would mostly depend on how motivated you are and how willing you'd be to "postpone gratification"The best bet is still a DSCR Loan.. which means you moving and renting the property out.We can bring in Asset Based Financing that can help with cash down (if you need it) or to pay cash for another property for you to reside in.Once you're moved out we can do the DSCR Loan at a 70% - 80% LTV or we can calculate a comfortable cash flow number.For example, max cash out that will give you $500 cashflow after a full PITI payment.Let's discuss more!

While the CPI report is generally more well-known, the PCE Index is becoming the Federal Reserve’s preferred measure of inflation.

They prefer to get your financials. 

The IRS prefers that the rental is in service for > 1 year but 2 is the rule of thumb You can defer the capital gains and depreciation recapture on sale of your townhouse provided you meet the 1031 Exchange timeline and requirements...

We've also had a number of people relocating to the area reach out and say that they would prefer a furnished unit while they looked for a more permanent housing solution (often purchasing a home). 

Given the current market for last minute pricing being much lower, I have my doubts that having a more lenient cancellation and would prefer the strictest possible.