I would agree that this fee seems reasonable for your personal return including the three properties. 

How much HHA pays will depend on a few factors like income, number of children, etc.Attend one of their online information sessions.

With pretty much every lender I've used they charge a draw fee whenever I pull a construction draw to pay out a contractor.

A lot of different markets here in Ohio, so it's important to decide what factors you're really looking for.

I think the HOA fee will tank your profitability.Run the numbers and see what you could bring in minus your expenses to see.

Or maybe it's to help highly optimized properties justify a higher ADR and therefore higher fees?

The strategy that works best for any given property really depends on local factors.

Know that it will cost you probably $3,000+ just in closing costs to buy whatever you buy (all just dependent on the price and what the fees are for your government and lender.)  

If you do it right you can keep the interest rate and fees down to the equivalent of 5% a year, but it is risky.

If you're thinking in the Reno Tahoe, NV area you can check out this rent map: https://www.addressincome.com/data-center/reno-rent-mapLook at other factors in the neighborhoods, like close to trails, restaurants, college, or a cement plant.