The estimated value  now (roughly) is $200K. 

I feel confidant that your knowledge and expertise will bring you much success in your market.  

Quote from @Brandon Croucier: That’s a killer loan if they are actually offering that.Seems extremely below market value as even primary mortgages are higher than this right now.I would beware of a bait & switch on this. 

It is harder to find good information if the forum is cluttered with low value information. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Lenders are looking for fair market value.

Also, I would look at rental rates to property values to determine if any areas are around the 1% rule.

Sometimes making a smaller profit and providing value is far better than holding out for a bigger payday on a bad deal, I like that.

Looking to connect with any investors, realtors, property managers, contractors, wholesalers etc from the area :) Feel free to comment or DM!

The value of the hotel is based off of how well it's being operated.My advice would be to get a job in the hotel industry.