You're running a "hotel", would you stay at your place or another house in the area? 

.- I can invest across different types of deals unusual or difficult for a smaller investor (multi-family, opportunistic/distressed offices, hotels, etc.).- I don't need to put up as much upfront equity as I would need to for doing it myself and I can use that capital across multiple deals.- Pricing 'should' be better from the perspective of fees, contractors, rates, etc. that the sponsor gets vs. me as a solo investor.- I don't care if the investment is less liquid vs. an ETF or REIT and I would aim to hold it for 5+ years at the bare minimum.Some other questions I had and would appreciate any advice:- Is an average minimum of 12-15% irr reasonable for syndicated deals ($10mm - $100mm) with an experienced sponsor?

The reason I ask is that studios compete with hotels and hotels are efficient.  

Since Austin charges 11% hotel occupancy tax, should I include that as part of my expenses when calculating cash on cash return? 

I attend 3-5 meetups monthly and we have local meetup https://www.cirpp-live.com/ been arounds since 1974 and we meet twice a month (one network night at local spot food, drinks, socialize and one day 1130am-1pm guest speaker and food at I-Hotel on campus) that have found vendors, private lenders, etc.

Do I focus on hotel conversions or core multifamily deals?

Meet once a week, hell go 2ce a week. rent a hotel conference room and go have fun down talking wholesaling and wholesalers.

You do not have to pay for them staying at a hotel, that is on them and/or their insurance. the tenant does have the option of canceling the lease, but you do not - unless the property was severely damaged or destroyed.

Tropicana Imploded Early This Morning: The historic Tropicana hotel and casino was demolished in a dramatic implosion, marking the end of an era.

I'm scaling into a commercial property and starting a boutique hotel.