So, I sent email asking PM why there is late fee existing?

Basically an informal audit of ones portfolio.This could be as simple as creating a few benchmarks (specific ratio of expenses, total PM fee ratios, vacancy rates and duration,etc)As much as one could assume they have a well oiled portfolio, an outside investor could find areas of improvement.

/ $1000Utilities / $300 mo.Supplies / $60 mo.Lawn Mowers / $200 mo.Total monthly cost$1600-1700Target nightly rate starting out: $140Cleaning Fee: $50Avg. occupancy rate for my area: 46% (This could be inaccurate)Projection: $1932 (@ 46% occupancy) + 300 (cleaning fee @ 6 stays) = $2232 - $67 (3% booking fee) Monthly Revenue:$2165NOI: ~$500/moSo if you have a lower-end home in a smaller town here are the numbers I'm interested in:Total Revenue for 2023 and YTDOccupancy RateApprox.

This means that many hospitality properties need to refinance their debt at significantly higher rates in an environment where local and regional lenders have been pulling back.In this podcast with CEO Greg Friedman of Peachtree Group, a private debt and hospitality private equity firm, he states that many hotel projects got shelved during the pandemic and that is bringing on an undersupply situation for hotel properties. 

With interest rates so low we have refinanced into several 15 year mortgages with the goal of quickly paying down/off a few properties.

I have noticed a lot of institutional shops and real estate private equity firms will factor in SOFR rates into their analysis.

To offset these costs, your association requires owner-landlords to pay an annual leasing administration fee.

Rates range from 8.75-9.2% but I know you'd need more information.  

After screening what should I look out for my biggest issue is credit and late fees .

Cash Plan to refinance when rates are more favorable How did you add value to the deal?