@John Sigs  a couple things to add to what's already been posted:1) Appears you need to be properly licensed to manage properties you don't own:https://www.allpropertymanagement.com/resources/property-man...2) Renting-by-Room has so many headaches, 10% of the rents is a pretty low amount.

I hope you're doing great.As a licensed real estate broker in Tulum, I would like to share my opinion on this area with you.

Not everyone starting off gets hit with this, and if you can buy a portfolio it can "de-risk" the issue to some extent, but if you have one property and experience an 8-9 month fight to collect rent prior to eviction with a large repair bill after that it can be very painful.ALWAYS use a licensed PM in Detroit. 

I've seen a few properties in Colorado mountain towns for sale recently with STR licenses that transfer with the property (rare to find because the waiting list to get a license is many, many applicants deep.

I overheard a conversation where someone stated that if a developer is the GC of their own project they must be a licensed contractor.

I sell lots of different investment properties all over Utah and Idaho (I'm licensed in both markets) and I always go for conditions, location and cap rate before I look at equity upsides.  

Auctioneering requires a license at least in my area.

Also, I'm about to take the state exam in Arizona to become a licensed real estate salesperson.

My advice would be to maybe reach out to a company here locally that already has the relationships and the licenses in place and learn from them. 

I'd recommend mixing in more commercial to balance out multiple assets, buy a liquor license for a few hundred thousand, etc to make the deal work a little better. columbus hospitality isn't as strong unless you are in the urban core but even then I'd go for a lower risk asset class like multifamily and retail mixed use. hotel is very strong operator but management intensive.