Fixing those things from a distance will be very difficult and very expensive, and in all likely hood you will need to book plane tickets and hotel stays to fix them.

Each building regardless of age if the landlord pays utilities then you should go 60% and not 50%.In some areas multifamily operates more like hotels with a factory worker tenant base where the rent is collected weekly before they spend their checks.

I agree that you should seek out owner financing because when you get in to the larger $1 mil range, owner financing is much more available, as with hotels and is usually the cheapest for you.

And before she was savvy on short sales, she flew from Raleigh to Orlando to look at one house, told them she'd make a full price offer and the realtor (on the spot) told her the bank would never accept that price and wanted $10k more; when she agreed, the figure jumped to $15k more and she told the realtor to forget it (after buying a plane ticket, paying for a hotel, and renting a car).

There are some apartments that operate more like hotels in that rent is collected weekly.This is especially used in factory towns.

Eventually, I want to move up to commercial real estate - particularly apartment complexes and hotels (yes, that is a ways down the line!).

It might make sense to me to purchase a house in a farm area that I know values well because I know the potential value of houses and can make a purchase without full due-dilligence (assuming my price factors in all possibilities)Is anyone familiar with the Auction sales at the Doubletree hotel in LA?

Unfortunately I don't have much of a track Record other than resume of a 13 year career in hotels and hotel management.

Make an offer on what makes sense.Once you get the property, you can either move in to the place (if it's habitable) or stay in the hotel/corporate housing where your contract is.Spend your evenings working on the place and cleaning it up. 

PROJECTBuy existing hotel and renovate to residential hotel for elderly poor.