some are $600 a month. you could rent each bedroom for $400 a month and make a lot more than you could renting to a single family, and you would be saving some college kid $200 a month. thats a lot when you are paying your way thru college. keep in mind, conrad hilton of the hilton chain of hotels started out that way

I heard about a new hotel planned for the Highlands neighborhood in Louisville.

Could be anything from hotels, to retail, industrial,etc. ( stabilized, value add half full, vacant,etc.).The existing condition of the property and asset class type will dictate to a certain degree the intensity of the management needed on a daily to weekly basis.

Also be aware of having too many vacation rentals in one cluster it starts to feel like a hotel.

I'd recommend connecting with actual RE investors and avoid the TV guru seminars that just sell training packages in hotel ballrooms.  

It could have a wetbar and mini fridge (hot plate), that has entry to the yard, connected by a door (that locks both sides like a hotel) - they would have their own entry and wouldnt have to go through your space

credit is NOT needed to get started in real estate, go network show your worth and partner with people, raise private money, non prime sub prime or hard money  asset based loans. then negotiate your debt, pay it off, and get 2 revolving credit cards that have great benefits such as hotels points or travel etc. use ONLY 25% of your credit limit each month and PAY IT OFF at the end of each month. you will repair your credit within a year.

So if you had a licensed inn or hotel, all suites of 3-5 bedrooms, say 5 suites, for a total of 20 beds, property has a pool as well, no front desk/concierge, What would you pay a property manager to basically manage the cleaners (come at end of each stay, and for a fee on demand), respond to inquiries/complaints, handle and schedule maintenance/repairmen, handle bookings and do the marketing function?

I moved from apartment to apartment and relocated renters as I fixed each one up.I sold the house in 2008 and moved the money into my Hotel.

They have sold and bought it twice since then and are offering it to investors again.They have a great value-add strategy and it's in a great location in a town that I think will see a lot of growth going forward.So while I won't sit here and tell you just go invest in hotels everywhere I think that particular one is a great opportunity mainly because of the sponsors and location.If you're looking for people to tell you their favorite area to look, mine is retail strip centers.