But if you are operating on really slim margins, you might look into overall availability of properties and occupancy rates (always a good idea anyway).

I think it's a good idea to budget for an additional 10% of expenses on top of your initial budget to account for additional unknowns during a rehab.That way it's baked into your numbers.

Always recommend checking out Furnished Finder Traveler search ( https://www.furnishedfinder.com/housing/New-York/New-York) and Airbnb/VRBO for 30+ days stays to get an idea of what's currently out there. 

Now I'm fortunate to have a very large Heloc to do all cash deals but you get the idea.

I have ideas on what I want to do but I need direction and guidance.

I use Quickbooks desktop.There is a learning curve to learning the software(which I think would be with any accounting software).However, once you have it set up and properly linked, it should take less time as months go by.

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.

Additionally, that exterior door would have to be bricked to get the exact layout, and I am not sure if I need a backdoor by code, or that it's a good idea to brick a backdoor or more aptly a side door.

I liked the idea of owning the motel but the area I was in (The Adirondacks of upstate New York) is a very difficult place to find quality workers.

I would talk to a CPA on how to properly transfer the funds to your LLC.Its best to always set up your LLC with an attorney.