There are still several potential plays on these greystones, but again they're not just sitting out there for the taking (and they might not fit your investment model) 1.

More people will see these as ways to decrease a housing expense while living close to where they work or having option to live work play, which is why people live in large cities anyways. 

In July, we were closer to 30% year over year, so this slight decline is to be expected with seasonality at play.

In other words this is not a passive investment; motels need management and a small motel doesn’t afford the ability to pay for the type of management where the owner can play the role of passive investor.It sounds like you don’t really know if the owners are motivated to sell or not.

In my civilian life I'm a songwriter, and I also play trumpet with a few rock/R&B/pop bands and artists.

Great point - most PMs can be pretty bad at the asset management side of an investor’s portfolio and just focus on pure play property management responsibilities.

These referrals would be a great plug and play option as they already know what to do.

Substance generally rules over form in legal matters so be sure you know what liability you're assuming by playing this role and what you should justly receive in trade for the liability.   

You don't want to play that part for them.

They will just ship you off to someone to slap together some LLC documents and not provide future assistance.