This was a cold call (off market) deal and we have taken a mom and pop hotel and added value in many ways, increased occupancy and ADR (average daily rate), integrated with OTAs (online travel agencies) and increased marketing efforts to emphasize the strengths of the property as a destination for tourists visiting our region.

:(I'm very glad that you're able to re-focus your attention, efforts, and knowledge into something amazing, though!

Here are six tips on getting the most out of your networking opportunities.Don’t Just Make an AppearanceGreat networkers know it takes time and effort to succeed.

The effort you make to figure this out for this project will add value to your future projects, as well.Good luck!  

Not all of these offer 12 months up front, but I recognize they're making a good faith effort to make the landlord comfortable. 

Also have a related question: for someone new to notes but happy to put some effort into them, would you suggest sticking to performing notes for the first bit, or perhaps dipping a toe into a non-performing note?

This may not tip the effort/reward scale enough on my nap correlation index. 

So it's worth taking the time and effort to figure out what will appeal to tenants/buyers and look current while withstanding the test of time so it doesn't look dated in a few years. 

I've seen plenty of on the market deals but I'm looking for the properties that need a little more effort for a little more return vs the turn-key. 

Several years from now you’ll probably look back and realize that the appreciation gain was well worth the efforts.