You also want to investigate utilities, access, site work stormwater etc.

Do some investigating to confirm your speculated numbers.

@Michael Haas  out of curiosity what does it usually take to legalize an existing unit  (lets say it was basically well constructed basement ADU,  but built a decade or more ago without any permits/etc I don't have any such situation so just a hypothetical question,   though I do have some extra storerooms at one of my properties that would be best converted to a studio unit ; but when I investigated this with the local municipality they basically wanted me to upgrade the entire building to current code standards in order to be able to finish out that space as a 5th unit.   

Now, keep in mind that the deal is, you sold me a contract to buy, that means with good title unless otherwise disclosed.I'll sure be looking at you if I bought your contract and in 3 or 6 months (whenever) I can't buy for any reason other than default of the seller and even in that case, the deal may be investigated to ascertain if that contract was good.

We have investigated STR a bit and it seemed most platforms required some amount of pictures before getting the listing live.

You might also want to investigate the closing cost calculation. $2k is only 0.7% and these typically run 3-5%.

Hi,I'm just starting out in real estate investing and am investigating several different options from BRRR to purchasing commercial buildings to rent or possibly starting out in small multi family units.  

I understand the want to be conservative in running analysis, but it's important to consistently be refining the analysis investigating all areas to lower expenses like with insurance. 

The Agency’s investigations are complaint driven, so we rely heavily on the public, and our licensees to bring these individuals to our attention.

There is certainly a difference between age groups though as far as which generations typically go for which type of accommodations...yes.But like I said, I think you bring up good points and it's all the more that someone looking into hotels should investigate in regards to the area they are thinking of investing in.