They have made it clear to me that they refer to me because they are comfortable/confident that I will take good care of the client which reflects better back on them, keeping their reputation strong and earning them real estate referrals from the client if they end up happy with the whole experience (which is much more valuable to them than a few hundred bucks from me). 

It was an 8 unit building and it was a total disaster for all of the other tenants loud music, crack, heroin, property damage mad orgies etc...Evictions of this kind take forever and the local PD wasn't much help so we had to hire off duty police officers to work 3rd shift security till we got her out of there.  

-no reputable contractor is going to be willing to put a penalty in a contract with a brand new investor working on their first project. 

We will choose our general contractor based upon reputation, references from my own commercial construction contacts (I have held a LA State - Building Construction license since 2001), their solvency, then finally their proposed bid.

I know that LH’s get a bad reputation, but with the leasehold till 2050, that’s 25 years of possible excellent cash flow, It’s attractive to me to invest in from that perspective alone. 

If it were a no name brand, I might be more wary, but it’s a brand with a good reputation. 

Anyway, repairing flood damage is not a big deal.

We used to do pet deposits, but now we collect a one-time "pet fee" upfront that is designated for damage repair and cleaning on the back end. 

Experience or Reputation && Why?

You can't forget building a reputation with your own direct booking website and bookings.com, Mariott, etc.