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.

The problem is, none of it is based on actual comps, and again, the word "cute" doesn't have anything to do with setting those numners.What you need to do is a full analysis of the comps for both rent and sold in your area. 

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%.

I want to be able to find potential markets/listings nationally based on the return.

@Mordechai ChaimovitzGreat points made above along with what @Daniel C. said referencing @Tom Shallcross's post on another thread.The context and variables for each individual investor will vary but many people are comfortable with getting a 2-4 unit that will reduce their out of pocket expense compared to their previous rent with the intent to do rehab and raise rents over time.

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

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.

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

If you want to buy  STR or MTR, i recommend buying next to hospitals there or near strong economic bases.