We offer a $200 referral fee, and have been considering increasing it. 

Or is it calculated daily and the base rent increases after 10 days when the late fee hits the account?

A prior cost segregation study increases the depreciation taken during the owner’s lifetime, lowering taxable income each year.

When you pay cash for a $400,000 home and rent it out, your rate of return will likely be less than 6%.You could invest in stocks and earn 7% or better.You could put the money in a high-interest savings account and earn up to 5%.I don't understand why anyone would pay cash for real estate, erasing many benefits that increase the rate of return, while exposing themselves to the risk of loss (turnover costs, bad tenants, capex, etc.). 

It’s worth considering the trade-offs between the stability of income and the increased oversight and hoops you'll have to jump through.

So is it equally illegal when the large landlords drop rental prices in a building as vacancy increases and the market softens?

Cheap money and low rates produce euphoria, which increases flow of money to an asset, which pushes up the price to uninvestable levels.I think it's going to get worse than better in the short term.Gino

With VRBO, strangely, it keeps recommending significant increases which isn't wrong.

These increases will likely slow to pace more in line with inflation.

The property manager should be involved before you buy any property to give input on due diligence, how to increase income and reduce expenses, and to make repairs or improvements to maximize occupancy.Excellent property management is critical to your success before, during, and when planning to sell or refinance.To your success!