Property taxes will likely be reassessed based on the transfer value, so confirm local rules to anticipate potential increases.If you hold the property for at least one year, you can use the equity as collateral for a construction loan, aligning with your long-term financing plans.

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

Based on the above points, you asked us (experienced investors) what would WE decide.  

It would likely be comparable to what you pay in the NE.Just google "Lexington County tax estimator" or whatever county you're interested in and you'll usually find a web tool from the County you can use to estimate the tax bill based on the previous year's assessments.There is also a law called the ATI tax exemption that can potentially lower than 6% rate by 25%.

Position these as limited-time deals to attract budget-conscious travelers.Be Responsive and Personable: Guests often book based on their interaction with a host.

Based on the info in your post, my recommendation would be to turn these assets into well oiled machines and max out their NOI.

I think I’ve covered my bases, but I’d love to connect with others working on similar models or interested in this niche.Looking forward to hearing your thoughts!

Based on that number of units I would expect much higher figures - did you buy these buildings all/mostly cash?

I'm sure it was highway robbery - it certainly was based on the man-hours it took - but when you are in a desperate situation, you do what you have to do to get yourself out of it.  

I would recommend you begin researching Chicago based meetups as there are a bunch of really good ones.