Some hoteliers take sba loans from the care act, (cap on loans is $250k times mthly payroll costs,) some lose $ or close their doors, some just hope the economy picks up, or new legislation is created....I wonder what percentage of hotels are going to go out of business...or worse?

I'd also take out the super basic why real estate is better than stocks slides, I'm assuming this is going to be for accredited investors who should have some level of sophistication.

Nearly threequarters of all apartment properties in the country are owned by “mom-and-pop investors” who manage two to four rental units, These owners are also liable for the mortgage, “utilities, insurance, taxes, and payroll for staff and contractors they employ.”

Payroll costs around 175k a month.How much cash reserves would I need to offset these plus a ton of other expenses with zero dollars coming in?

Fill out the EIDL application on the SBA website -- it's a short form, best to get it in and get in line, and they can follow-up with a request for more documentation later when more info is available.The most popular program, the PPP, is only relevant if you have people on payroll. 

Second part, does your fund have a specific definition of "Sophisticated" investor that you reach out to for involvement? 

You need to capitalize and move funds along lines of privity.Looks like you will have payroll and insurance issues to worry about.

And what makes even less sense is that they have a PPP loan for payroll/employee costs so why are they now trying to frame this EIDL program into an employee loan as well? 

My 2 business partners and I are owners of an S-corp, and we pay ourselves a salary through a payroll service, which handles all the normal withholdings including paying into unemployment insurance.

They opened this loan up to independent contractors last Friday, the 10th, and define "payroll" as our commissions/wages.