I know that some landlords here prefer to remain anonymous and go strictly through a PM.

I have a strict policy for my PM business that I don't rent to friends or family because you don't want to be in a position where you have to force policy and then create bad feelings.  

This statement demonstrates a profound ignorance of the real estate sales process and the issues that Realtors routinely have to overcome. 

From an investment perspective that is focusing strictly on cash flow, at a price of $22,400 per room versus $300,000 per room, the hotel is the best choice.

This is coming from a location with only fly-in tourists and strict COVID regulations.

I currently live in Geneva (Switzerland) where prices are generally very high (average price per foot being approx 1330 $ in the city center) and there are strict lending rules for mortgages.

Do you think the neighborhood will continue to appreciate or are you looking at this strictly as a cash flow play?

Additionally many property managers self perform routine maintenance and repairs and see further incentive to do the work.  

Warren is pretty strict on rental guidelines so there must be 15k+ in repairs required by the city to get a cert (I'd look into that first) Taxes are listed as very low so this could be an inherited property - I'd like to know what they will be after the sale. $950 is a bit of a stretch for that place but lets just say 950 with tenant paying water if you're lucky.

The reason that lenders generally keep a strict LTV cap is that in the case of a foreclosure they want to be as sure as possible that no matter what the market conditions are they will still recoup 100% of their money.