I have no idea what a project like this costs and need some insight. 

Purchase based on sales comparables, at a discount, and have a good idea of what your operating expenses will be as well as what market rents are to get an idea of your return.

Jimmy (or anyone else), any ideas on good books or resources on how to buy hotels right, fix them up, turn them around and MAKE SOME MONEY?!?!

I agree with the idea of letting them stay, adding the pet deposit and socking the money away because in the end, this can be a challenge to take care of the odor.On the other hand, if the contractor is not used to cats even one dirty litter box can cause a significant ammonia odor (cats consume a very high protein diet and thus produce a high urea content urine).  

Primarily interested in marketing ideas (direct mail campaigns, flyers, etc.)  

Which possibly then even gave me the idea seeing if they would be willing to owner finance.

If there is another house hacking idea you have other than these, I'd definitely be interested in hearing about it.

I don't like the idea of holding a 2nd if there's going to be a market correction, unless there's a lot of equity in the property.

Lol that is a great statement but doing the numbers yes they are true but that's a great idea thank you 

Yes sometimes it was messy but usually between the choice of 1 or 2 apartments a new person would get the idea that yes it was floor plan they were considering and were able to overlook the sometimes messy aspects.I did run across an occasional unit that was not able to be shown until vacated, due to terrible housekeeping but this was rare, and my owner knew then that I would have a vacancy until turned and ready to show.