One model I've seen work, which may be in part because of their location, is the Tiny House Hotel https://tinyhousehotel.com.

Short term leases attract hotel tax and the economics don't work.

Anyone here going to the meet up at the grand hotel in Long Beach tomorrow?

That is perfectly legal and will meet your FHA OO requirement.Upen Patel, Mortgage BankerFederal NMLS# 1374243 The FHA loan paperwork includes the "FHA Borrower's Contract with Respect to Hotel and Transient Use of Property", which forbids short-term rental of any part of the property (defined as less than 30-day rental period, OR including hotel-like amenities) during the life of the loan (not just the first year). 

But off the beaten path is mostly salons, spas, massage, hotels, million dollar condos, office,....

I am very ambitious, I want to someday own my own luxury hotels as well as luxury condo buildings.

Does anyone know of anyone or groups that are buying hotels and large apartment buildings? 

I have contacts and investments in a particular business model in Australia, returning ~20% net (downside being exposure to a somewhat volatile currency) plus capital gains.The model involves the rights to manage hotels/ vacation apartment rentals/resorts.

I read HotelNewsNow & Hotel Management magazine to stay up to date on the hotel sector (among others).  

I am trying to figure out how much equity I would need to raise to build a hotel.