I worked with a group that transformed an apartment building into a boutique hotel in NYC, and while researching, we were able to find trade reports detailing everything from cost per night for housekeeping (even down to the toilet paper) to how much hotels in each class paid in rent.In this area at least (I know very little about Orlando), hotels operate on very high break even occupancy rates - most are in the mid 60s to low 70s, and in the city, its in the low 80s!

I would also seek expert advice all the way through, and this is just me but I would be transparent with whoever you're borrowing from so that there's no risk of penalties or hurt feelings after you transform the residential into a commercial on an FHA residential loan. 

A front porch, or wrap-around if the budget could extend to it, would transform that house.

@Jason FarmerThose billionaires also don't need them money anytime soon, have money to lose and can buy enough to transform an area and do it right now buy a few hoping to ride the wave and have someone manage them for 10% of low rents.  

Can't be humble about that @Joshua Dorkin you built a company that is helping to transform our lives daily and our childrens future!!

I love to get my hands dirty and get involved in the transformation of a house, so I'm excited about flipping.Thanks again for all the great info.  

Luckily we used sweat equity to transform this property to a suitable, safe, and clean beach house rental.

Investing hundreds of thousands of dollars into the most ugly house in the neighborhood and a few months later seen it transform into the most beautiful and most desirable home in town, it is extremely satisfying.

The KPMG Global PropTech Survey 2019 confirms that 80% of firms still do not have “most or all” of their decision making led by data.The same report also hints at a “skills gap” — only 5% of real estate firms have transformation efforts led by someone with knowledge of data analytics.What would you say would be the challenges ahead of us in 2022?

When you elect to move to a new property, you simply keep the current one and transform to a full rental.