I believe that in the hospitality business guests are looking for an "experience" not just a room and a bed. 

I can't believe i've owned this property for almost 2 year with out insurance!!  

I believe growing up in a family of woodworkers and handymen has prepared me for these challenges, as I've worked on many houses and projects before and helped build a rather gorgeous 3000 sq/ft log cabin starting from foundation up as a young teen.

I believe I can do it for 20-25k but was trying to be conservative.

For someone that's not as conservative, or a different view on the next recession, they might have a different opinion than me on all of this2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

:)Personally I am a big believer that you decide where you would like to live, and then do real estate, the markets will change drastically over the course of your career. 

You are always going to have holding costs (electric, oil/gas, water, etc...).

Real Estate Investing has given me the opportunity to quit my day job, create passive income, and free a lot of my time back up to be able to do what I love.However, with each new "level" of success brings on new chal...

It's a bank foreclosure, and (at least one of) the heirs has a copy of the QCD she signed, apparently believing that personal debts of the decedent would take all value out of the property. 

I couldn't believe how much they paid.