Just not worth dealing with because there are better options out there. 

It isn't worth your precious time "getting it back." 

People are spending and traveling like there’s no tomorrow still with everyone’s net worth way up.

It's the typical oversupply situation but on steroids.

But your goals, timelines, etc are not outlined at all.Common issues I see on these forums: everyone thinks they are getting a little cash flow, but over the long term, they are a) not getting as much as they underwrite and/or b) typically hurting long term value by creating cash flow through deferred maintenance.  

Even in my primo areas, you don't get top dollar you do get a really primo city though.In regards to this, the risk is likely not worth it unless the operator has a successful track record, puts a healthier deposit, and signs waivers to own all liability.

Typically a HELOC is a better fit for a flip/BRRRR type of scenario so you can pay the HELOC off/down much more quickly.I have used our HELOC in both scenarios.

What's your typical marketing stack?

I am interested in Dallas/Fort Worth area.

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.