I’ve seen some people really do well and tremendously enjoy owning their own bed & breakfast. I’ve also seen other people find it was more work and more difficult than they anticipated.
Before you start or buy a bed & breakfast, you need to have realistic expectations. In this business you may very well make as much money as you anticipate. And financing may be relatively easy to obtain. However, the business may involve more work and issues than you anticipate.
People expect personalized attention at a B&B and they expect everything to be just so. Some guests will be more demanding and problematic than others. You’ll need to deal with guests changing and cancelling reservations. You will get special requests and you’ll need to decide how far out of your way you want to go to please your customers.
With guests coming and going, your building and property will have more wear and tear than a private home. An older property especially will need more repairs. Cleaning is a never ending chore. Will you hire someone or will you do the cleaning yourself?