Does the 60% the condo-hotel takes include the HOA fees or utilities or replacement of furniture/repairs to the unit like plumbing or stuff like towels and sheets etc?

I fold the letter, stuff it and place the precancelled stamp on it at a rate of 94 envelopes per hour.....takes forever.Add in screw ups (see my post about 3000 yellow letters down the drain) and you have yourself a time consuming, repetitive, completely boring endeavor.If you plan on sending a few hundred a month you can swing it on your own but if your time is worth anything you'll outsource.  

Another way is to switch your product from 30 year fixed to a 5/1 ARM so now you're taking program or financial risk to arrive at a lower rate such that you can pass this FHA SS rule (5/1 ARM FHA has a lower rate by up to .50% than the 30 year product typically).

Stuff as simple as replace cabinets/counters and repaint.

They often don't have enough $ to take their stuff out. 

If your property is up to par you won't really have many maintenance calls except minor stuff such as plumbing clogs which is more likely to happen and requests to turn the AC up or down which you can do on your phone but other than that pretty hands off.Vacancy depends on location and your Padsplit property score the more comfortable you make your property (mini fridges, tv's, outdoor area) the lower your vacancy rate but you can expect about 10% vacancy factor in a Padsplit friendly area (centrally located, easy access to public transportation).

Lots to learn, stuff you wouldnt even think of!

Also, @Jamie Banks has this stuff down to a science as well.

We are trying to make it better with a YouTube page on HowTo do stuff etc.  

I've gone through books and all the various YouTube stuff, but best to talk to real people doing the real thing.