That may not apply to you, as a financial professional, but I thought I would share the story.Obiously you could re-lever your portfolio to bring the ROE back up, but then you have to place those borrowed funds somewhere that nets a high enough return that the portfolio is ahead, given the drag of the interest and any transaction fees.    

Investing in the market that you have knowledge of and the economic factors that support it is necessary. 

I know they are crazy guest friendly but this seems over the top.Guest didn't deny it....responded with "I payed the cleaning fee, why would I clean up?"

Although the percentage of the increase is large, the determinative factors are whether the resulting rent is so great as to shock the conscience of a reasonable person and was effected for the purpose of compelling the tenant to vacate."

additional fees? 

The HOA fee takes care of external up-keep and maintenance so you don't have to worry that the tenant isn't taking care of it. 

Most times landlords don't have data or cannot adequately factor in vacancy time or turnover rate.

All of these factors/considerations impact each other to some extent and its impossible to know whats possible until everyone in the group is clear on what they need/want this to look like.Either it sounds like you're on the right path with the line of questioning. 

Quote from @Paul Azad: Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective?

Flipping on a land lease with high HOA fees = challenges that could impact profitability. $700/month HOA fee may deter buyers, elongating your resale timeline, and could push your ARV closer to the lower end of your range.