Because this property is located in midtown historic district of Sacramento, we feel there may be market for both MTR and STR, but first thing is we will target LTR and let 3 or 4 units filled in.When we first start developing this apartment from ground up, it was intended to flip and move on to the next project, with timing and interest rate etc.. we deiced to keep it as a cash cow for a while and see how things go.  

For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand. 

(They broke the story on Beattie Development and they've asked other clients to contact them with your issues/complaints.) 

I will summarise my learnings to date and share a little about the process/rules I have developed here to hopefully be successful in REI in the Portuguese market.

Network with experienced investors, choose a real estate strategy, research markets with job and population growth, learn financing options, familiarize yourself with property management, develop a long-term plan, and leverage your stock experience to evaluate markets and trends.Good luck!

Health professionals are generally looking for 1-2 bedrooms and even travelers in other professions look for that size unit.

Quote from @Steve Lehman: @William VreelandAs a local Indy Investor and RE consultant I have been flowing the IHA development closely to see what kind of developments have been happening.

But I'm sure the developer made $1m.

If it is covered it's usually if caused by a covered loss meaning mold develops due to some other covered peril. 

I am not interested in this space as a "get rich quick" solution but more so about developing and growing assets over time and eventually trading up into better assets that can provide the cash flow I need to accomplish my goals.