Gaps for the next research pass

Full audiovisual playback was not performed. Several entries rely on publisher show notes; a next pass should review complete recordings and verify additional timestamps.
YouTube coverage is limited: one explicit embed was retrieved, while Peachtree’s publisher page supplied a video link whose destination could not be fetched. Most selections are podcasts.
No verified episode supplies a complete US boutique hotel underwriting workbook, a defensible current cap-rate range or licensed property-level RevPAR comparables.
Management-agreement fee waterfalls, performance tests, termination rights and transition liabilities need a dedicated, current US legal-specialist recording with accessible supporting materials.
Seasonal-operation coverage rests on a 17-unit Maine case outside the core 30–150-room target; find a larger leisure boutique with disclosed monthly working-capital and debt-service analysis.
Insurance, property-tax reassessment, detailed food-and-beverage profitability and construction-cost verification remain thin.
Two Lark interviews offer different operating perspectives but are not independent corroboration; obtain owner-side references or contrasting operators in the next pass.
The CoStar publisher page was identified through search but restricted automated full-page access; episode metadata and an additional listening route were found on a transcript mirror.
The June 2026 Lighthouse addition is a vendor-authored fictional demonstration; full playback and any claimed commercial results were not independently validated.
3 source URL(s) in this document had restricted retrieval, minimal extractable text or no separate current recheck; source-status labels identify them. Obtain controlling documents or direct confirmation before a transaction-specific use.

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