One pet peeve of mine is when a wholesaler tries to lock a property up for nothing with zero promise of closing. 

Don't forget the monthly pet rent.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

For example, it is still fully booked during  the spring break (although a major reason is significantly under priced nightly rates due to lack of experience and pet friendly policy)To turn this motel, we are thinking about two strategies: the first is to incrementally improve the place, i.e., replacing all these nasty mattresses and beddings, re-caulking bathroom tiles, adding some nicer furnitures, etc..

I am not a lawyer and this is not legal advice, but I have added a cancellation clause "cancelations within 24 hours of arrival will result in no refund, cancelations 1-3 days before check in for a 50% refund" as well as a fee associated with undisclosed pets, that is around twice the fee for disclosed pets that you charge. 

Often interpreted as haterade, one of my pet peeves is the profits some wholesalers try to make.

Do they have pets?

Personal:  Have you met their pets? 

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

if you have an additional defined pet deposit do you have to pay 5% interest?