I suspect these things tend to snowball on top of things, wherein funds start cracking and you have to keep running faster and faster to keep a roof over your head and everyone paid.

Properties with no mortgage tend to be lawsuit targets. 

We see it in our market here in College Station, Tx. also... the bigger properties do really well during our peak season but tend to be pretty stagnant during the week and sometimes even the weekend during our slower season.

My vacation market we are around $800 per night so the clientele is more family oriented and tend to spend most days in national parks or out adventuring.

In my experience, these are the guys that want draws all the time (and it is easy to get ahead on them based on percentage).I tend to avoid the guys that can "start right now".  

The no-show rate for prospective tenants in this area tends to be quite high.

When running numbers, especially on small multis more western markets with direct access to NYC tend to be more favorable from the numbers stand point and many of these towns offer 30 minutes or less taking commuting lines.

When this happens, inflation-adjusted rents tend to decrease.

The typical bars of soap are too big for 2-3 night stays, but 1 oz and smaller tends to only last a day.

Plus, building those relationships with contractors and suppliers while gathering numbers can lead to better deals down the road.