I have found 1st lien mortgages to be very profitable.

The short-term rental market here is particularly lucrative, though regulatory changes can impact profitability. 

I would like to see if I can make a small profit, and I want diversification with maybe a 4 plex, or multiple SFH/Condos.

This is a property has been in the family a long time and I'll be holding onto long term as it turns a good profit.

While smaller towns in Kentucky often have lower price points, which means less capital is required, there are limitations to the profitability of these markets.

The smaller more nimble banks such as state chartered or regional banks are better able to service you.If the LLC that owns the property is part of a legitimate business, is profitable, then you stand a good chance of securing some kind of funding.

Are laundromats profitable?

But to be successful and profitable, takes some distinct characteristics:1.

. :)  these are not credit score loans ( I mean I have a credit score) but thats just a formality its all about capital and relationships with your bankers and deposit relationships thats key as well.Yes your relationships with sub contractors will be a huge factor in profitability, both direct and indirect. 

Check their nightly rate, occupancy and amenities.That will give you a pretty good idea of need and profitability.