I'm just speculating, but we've already seen strategic defaults in commercial real estate in the last 6 months or so (example: Marriott hotel in RTP to be released to lender after loan default).

I have seen them in hotels...

We have experience in SFR, Multi-Fam x Hotels, Restaurants, Retail and more.

But I think I have a soft spot for constructions crews because my husband worked on the road for years and I know how much he hated staying in hotels.

When hotels want to build a new hotel they know the competition and the announced new competitors. 

Today, in a different financial state, I will be considering a different route (apartment complexes, hotels, motels, mobile home parks, etc.) in slightly better neighborhoods.

This makes the STR a business like a hotel and can be used against your W2 income.

So what I'm getting at is if you as the landlord can restrict pets, there may be a clause to disallow smoking on your lease. ....Nowadays hotels do not allow smoking in their rooms so why can't you?

Many more people traveled using Airbnb to avoid hotels, and rural/nature areas like this one did the best of all because everything in the city was shut down.

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.