A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

I always tell people that when I got started in the industry, I expected future-me to always look back on the amazing deals I was able to close.

Had I set better expectations from the beginning maybe my experience wouldn't have been as bad. 

The longer it takes the bank to underwrite the loan, the more likely the loan request will be rejected or at best expect to receive less favorable terms.

I did not expect this thread to get this juicy. 

3) Aside from washing the walls or getting a full repaint quoted, would it be reasonable to deduct the expected cost of "Kilz" paint/odor sealant brand for effected square footage?

How much cash flow are you expecting?

As Governor Newsom noted, this project is an example of how state laws can transform spaces into beneficial mixed-use developments.This project is expected to set the tone for future developments that combine convenience, housing, and community benefits in California and beyond.

@Leslie Beia, while I don't believe I have the same experiences as Matt direct to hotel ownership, I do have a lot of experience working with investor capital, how to underwrite deals to show what the investors can expect in return and what you get.That being said, at a high level, I could invest in a private note fund, and earn 10% annually.  

Most doing such today, are using a VERY failed concept of thought of expecting pandemic-era type returns/appreciation.