I was actually considering starting one with a focus on out-of-state investing in multifamily and hotels.

This may not be popular here but not building enough homes is one problem, but so is having homes tied up for short term rentals (where hotels would normally be used) or people having second homes that sit vacant (eg weekend home).

It takes away housing stock from the people who actually live there so someone can essentially run an unregulated, unregistered, illegal hotel. 

It'd be ideal to put them up in a hotel (or if they'd prefer to stay with family/friends you can deduct the rent for the dates without water) until the repair has been completed and the water is back on for that tenant. 

Chicago isn't known as a ressort/vacation destination but those 35M still need somewhere to stay and more and more people are staying in Airbnb's instead of hotels.

Just wanted to say 27.5 vs 3927.5 = Residential: Apartments and Rental Homes. 39 years = Commercial buildings: ex. hotels, retail, warehouses, motels, casinos, restaurants, and others.

I won't be investing in the riskiest/most supportable asset subclasses such as hotels, and tilt my portfolio the ones that have historically been more stable such as multifamily and single-family housing.

For the last 7 years, I have been involved in purchasing, rehabbing and managing 3 hotels in St Augustine Florida I live is St Augustine with my wife and 4 children.

While this probably won't happen, in the hotel space, cameras over cars are frowned upon, because they can get sued for not having someone watch over them 24/7 if something gets broken into. 

They have also purchased the Dupont hotel and are renovating and updating that as well.