Personally I don't see the need for that. If you do your homework (with the help of FTers of course) you should be able to find decent places to stay at very reasonable prices. The rates you have to pay for Hostels/Motels etc will usually be marginally cheaper and not infrequently even more expensive than proper 3-4* hotels that can be obtained through a measly amount of FF miles, a Priceline bid or a website offer. And there's always the MR forum for ultra-cheap flights!