This building is an abandoned hotel/motel. There are 20 motel rooms, owners quarters and a restaurant. I found this building by calling around researching the 9 units I had posted before. I contacted an appraiser to find out the Cap Rate in the area and she said that she was going to be doing an appraisal for a motel- I asked if it was the Aspen, and she said she couldn't say. I am guessing that the bank is having it done. So I suppose now, the next step would be to find out who the owner is and who the bank is.

My plan would be to keep, hold, set up a team, possibly sell or refi out. I would want to renovate the outside as it is ugly...however it is still in operable shape and could be done in phases- mainly during off seasons- and we could run really low specials just to get people in. WildAmbitions had the idea of turning the restaurant into an internet cafe-which is genius, as there isn't one in town.

My eyeball estimations of renovations would be close to $70k.