When we did it, rates and prices were low enough (and rents were high enough) to still be in a cash flow positive position despite the higher mortgages. 

Cash flow will increase when/if rates drop.2.

Check their nightly rates, occupancy and amenities.

Why sell if your rate on the house is good and you could have two cash-flowing rentals there, the main unit and the basement unit?

What’s the avg cap rate for 1-4 unit multi family near ASU Tempe.

Today’s Interest Rate: 7.02%(☝️ .04%, from this time last week, 30-yr mortgage)Good News Day!

If you purchase a property, many of the costs on the closing statement are added to your basis.There may be some items that are eligible for an immediate write off such as pro-rated taxes, interest, insurance and hoa dues.

we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

My guess is at current interest rates and building costs, the numbers won't make sense.Are you in the STR zone I guess? 

Pick your plan, look into the Kansas City area, use market comparisons, check your money power, look into loan options, put together a team, check cash flow, ROI, and Cap Rate, and make your bid after careful checks and talks.