I have an opportunity to purchase a 262 unit storage facility and can structure a deal with no money out of pocket.

If the tenant has a cooking accident and ruins the hardwood floors, countertops and glass cook top, who will pay?  

You're paying to not have to cook or clean. 

The market the hotel is in, the seasonality of the market, is it geared towards biz or leisure travelers, does it have conference facilities, etc are also relevant.

You'll be able to tell by the look and feel of those properties' interiors if they were done by investors or not.Then you can go to the Cook County Assessor's Website (or whatever county you're searching in), search the address of that particular house and you can find the tax record with the owner information on it.

.- And here's an excerpt from the actual Washington state law (RCW 46.55.070) that authorizes it (read the bold part in subsection (2) about residential property):RCW 46.55.070Posting requirements—Exception.(1) No person may impound, tow, or otherwise disturb any unauthorized vehicle standing on nonresidential private property or in a public parking facility for less than twenty-four hours unless a sign is posted near each entrance and on the property in a clearly conspicuous and visible location to all who park on such property that clearly indicates:(a) The times a vehicle may be impounded as an unauthorized vehicle; and(b) The name, telephone number, and address of the towing firm where the vehicle may be redeemed.(2) The requirements of subsection (1) of this section do not apply to residential property.

Don't buy a new car, don't rent a high end apartment, learn to budget, learn to shop for groceries, learn to cook.

I am currently smoothing out the rough places in a storage facility I recently bought.

@Benjamin Cook Nice!

That said, I am drawn to Anchorage for its setting - views of the Chugach, Sleeping Lady, the Alaska Range, Cook Inlet, Turnagain Arm, proximity to "the real Alaska", and recreational opportunities like Kincaid Park, Far North Bicentennial Park, and Chugach State Park - while having the amenities of a mid-size American city.