A mini-split was installed for the upstairs bedroom.

A mini-split was installed for the upstairs bedroom.

Are you looking for a "traditional" STR like a condo outside Disney for example or do you want to do an "experience" one like a floating mini house on a lake?

Hi Buck,Just some of my random thoughts,Resume Speed Iowa probably not, Anahiem Calf, maybe.Is this an area where people want to live stacked one upon the other, or would they rather 'Spread out".Who will be your renters, local working people or Section-8, and how long will it take to lease up to stabilized where you can get a long term financing in place.What if Lease up to stabilized takes longer--how long can you "Weather the storm financially".What about lead paint, asbestos, lead pipes, etc...Does your estimate include a realistic bid on the electrical upgrade as apartments will probably require more electric amps than the hotel rooms have, and is that available from the Power Company, or will they up charge you to run extra service from point X to your address (if it's available at all).30 years abandoned, I assume the blacktop is pretty much rubble and will take a full replace.Hotels have long in wall A/C units, 2 bedrooms will probably require mini-splits.

Bank will take 75% of appraised value as collateral$4,505,000 Loan amount  24,405 Monthly Debt of Loan (assuming 4.25%/25 year am) 7 year term to match Leases26,500 Monthly income NNN 2,095 Monthly ProfitProperty is NNN lease mini strip facing a busy highway in a commercial corridor.

Netflix should interview you and make a mini series based on your tenant horror stories!  

It may also mean new builds are more modest and not mini mansions.

The group is full of people who really understand how hard it can be and how many mini-miracles you need to pull off in order to get things rolling smoothly.

We would consider new windows and possibly a mini-split to replace the window unit. 

You could have easily used that money to buy a mini freezer from Lowes or Home Depot.