Since you can’t do a formal inspection, a detailed contractor walk-through and phased renovation estimate are key.Have you considered checking city records for past permits to uncover any unaddressed issues?

While the property is in a smaller town, it’s relatively close to a larger city, which I think adds a lot of potential for attracting both short-term guests and long-term tenants.The motel has fewer than 16 rooms, and the nightly rates are extremely competitive for the area.

I've looked at shared rooms for months in different Canadian cities noting price movement. 

do you have issues with the city if there are cars parked on the street or lawn?

There’s a smaller hospital nearby and a large one the city up but I don’t think the nearby ones cover the point you’re making.

Before you get too far, get with the city/county and make sure everything is copacetic. 

I would check some of the sub markets 15-40 minutes from Raleigh city center that still benefits from the Raleigh economy.- Everyone's situation and goals are different but I would assume there are a few quality markets within an hour of where you are located in Florida that would check a lot of your boxes. 

But I do know our city needs a lot more of the first type. 

Which cities and areas do you think have the greatest potential for appreciation?

Ask the city/county for their STR rules.