-Comps in the area are selling at around 250K for cookie-cutter 1990s mountain lodge style homes that need updating.

Month to month really won't matter when it comes to income tax so I assume you're talking about My Lodge Tax (occupancy/sales tax)... in which case you're reporting income for month it actually went into your bank account. 

Our ski resorts just closed all the lodges/cafeteria/rental shops. 

The Lodging revenue is from the Pigeon Forge city website and encompasses ALL taxable lodging revenue, as such I think it's a pretty good indicator of overall rental income.

I’d want to see a line item bid by a bonded contractor, and a detailed, realistic financial forecast as well as a professionally prepared market study.A lodging facility is not necessarily a highest and best use.

Lodging/hotels/resorts, malls, offices, apartments, self storage, single family, etc., have been completely decimated.  

@Slade DiChiaro I host one every 4th Wednesday of the month in Scottsdale at the Masonic Lodge, our next one is this Wednesday. 

The lodging establishments that are currently feeling the effects the most are the hotels near convention centers.

Hello @Les Edwards,I hope you are well.I'm also in Perth (and also an Accountant).I'm happy to share with you what i have found so far and the people that i have connected ( who gave me great advise).The markets mentioned by @James Wise are great, you will notice that some will have higher entry price than others but then it will depend on your budget.Sure you will need a team and in regards to the loan, i would start preparing now (lodging past taxes and have those in order), then start establishing relationship with local banks.Do not rush, do the things on your own time so you know where you getting into.

Commercial encompasses a lot of different properties from retail, to restaurants, and to hotels and lodging - which accounts for big portion of the increase in delinquencies as stated by the article.