They've partnered with a company called Niido here in Nashville to take over a downtown hotel and turn it from residential condos to one thats permitted for STRs across the entire development. 

You live in an exotic destination and will be competing with hotels for most travelers that are renting a few nights from you.

This is for a condo hotel property.

The truth is, we have no idea what's going to happen or how Vegas is going to adjust to water usage.The thing I hang my hat on is knowing that there are literally billions of dollars here in gaming, real estate, sports, hotels, etc - those big guys aren't going to go down without a fight if Vegas is in a dire water shortage in our lifetime.

For those who have purchased hotels or apartment complexes.

Hello,I was wondering if anyone had some good ideas for making the most of a housing stipend (roughly the cost of extended stay hotel for that job location).

I stayed in a hotel recently and their fee for smoking in the room was $200.

Of course they also consider repalcement value.I have worked more on hotels -- then apartments --but basic principal is same.This year I am getting into Apartments and Shopping Centers Financing.Yes --the cap rate is decided buy Lenders and Buyers --based on Supply and Demand-- Large Companies --such as Insurance Companies and Pension Funds buy --large properties and feel comfortable with 5 % Cap rate --on Hospitals , Office Buildings Leased to Large A+ credit corporation or Government -- For hotels we used 12 % cap rate --and apartments --7% to 10% --Yes -- We have to decide our own comfort level and niche --such as Grade A or C apartments --similar to some people likeIndependent Hotels and make good money as well as people who owned Comfort Suites or Holiday Inn Express --make same rate of return.

A few months ago I got tired of waiting and we just got on a plane and went, stayed in a hotel for a few days and went out with a realtor.

I was just looking at some properties in Tahoe today (hotel though, not residential).