We've been searching for almost a year for a house hack around Baltimore with decent public schools, so when I saw this particular home I put on my rose colored glasses.

It's totally possible that they either  (a) buyers/seller are appropriately scared and prices reflect the actual risk or (b) sellers of hotel real estate aren't particularly spooked by coronavirus and, combined with low interest rates + institutional "dry powder."

@Chris Ganz I particularly do not like M2M, however, if they are good tenants I say do not rock to boat! 

Does anyone have any insight on how I can accurately learn renovation costs in a particular market without wasting a bunch of contractors’/Agents time?

@Todd Dexheimer I was given 10% as the prevailing rate for this particular area, but it seems multi owners are using a different criteria altogether. 

I would suggest that we discuss with each renter about their particular situation and make intelligent decisions and considerations.

Yes, it’s still a seller’s market.Depending on who you ask, it’s either a return to normal and everything is going to be great again, or the last gasp at the top of a market cycle before the unemployment/stimulus runs out.Nearly everyone agrees that taxes are going to have to go up to pay for all of the government rescue programs.What kind of taxes and how it affects RE remains to be seen, but it’s not usually good - particularly if they target 1031 exchanges, alter the RE depreciation schedules, eliminate the 25K loss that can be taken against ordinary income, etc.Similarly, we won’t know the effects of the mortgage forbearance programs, and eviction suspensions in some states, until later this year.But for right now, yes, things still look pretty good out there (if you’re selling, anyway).

That particular item could be $500k if you want it to.

I don’t particularly like this method as you will have to track two separate loans.

If you are having trouble reach out to investors in the same market, talk to some flippers and or Realtors they should have a pretty good idea of what the home would sell for in that particular market and usually as long as you approach them correctly and work to establish a relationship with them they will generally share this knowledge.