It sounds like a solid plan on the surface but you are going to have to realize that having tenants right next door might not always be the best thing.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

@Christopher Bennage sound like most of the front end items have been taking care of but I would still check with the city and the engineer who drew up the plans.

Sounds like you're off to a good start; setting a timed goal is key.

A roof that would need to be replaced “soon” But, I had worked it all out with my personal banker, my accountant and friends and family that won’t let me fail.

Sounds like you've already invested a lot in your education in real estate - kudos to you for putting in the hard work.My top recommendation for next steps: If you haven't subscribed to the podcast yet, I can't recommend it highly enough.

Sounds like it might a very tight deal. 

@Donald MurrillBuying a motel and turning it into apartment units isn’t as easy as it sounds.

@Evan Miller sounds like a great opportunity to buy it below market value due to the lack of knowledge.

Some people may make their money there and all the more power to them, but it wouldn't be me no matter how good the numbers are.However, this sounds like a numbers game to you, so I see the COCR is around 20% and based on the true net of $1600 it sounds like you've provided us all the expenses.I always like to run numbers personally so see what I input below and make sure its correct.