What is the overall supply/demand? 

Saw a bunch of lots cheap one time in a nice subdivision near San Antonio, but when I started calling around ends up the water supply cannot add meters any more, not enough water in their well. 

This will give you a good idea of the supply and demand as well as the standards in your area.

Reduce her pay and you could lose that.3) Does she provide her own cleaning supplies?

For example, 200 miles one way (guess) x $0.67 IRS mileage rate x 2 = $268 estimated vehicle cost per round trip, which is per guest stay.I'm using a calculator that factors in management costs (cleaning, hot tub maintenance, CapEX, OTA service fees, supplies, refunds, utilities, landscaping and internet) - it does NOT include marketing/tech tools like Lodgify, Guesty etc. so good flag. 

The supply of new units is overwhelming and demand is just not there.

In the Reno, NV market the single-family is out performing the multifamily because of the short supply and higher prices.

I believe VRBO does as well, but once the listing is connected to a PMS everything changes and you have to supply your own payment processing and guest verification. 

Many of these Colorado resort areas are becoming oversaturated with supply.

I mean once you talk to them, it's pretty easy to spot if they know what they are talking about.I've work on STRs before and to be honest, it is not the most fun aspect of accounting because the volume of allocating income from all sources (airbnb, vrbo, stripe, direct booking, and so on) to a bunch of random expenses (cleaning, supplies, repairs, advertising, commissions, and all typical real estate expenses).I had to strictly rely on the client's input on what the expenses belong to which property or even units, if the paperwork doesn't say.