From the words hot and potential hotentential basically is when someone not attractive has potential to become attractive as a result of growing up or a makeover
“That girl is so ugly”
“No if you look at her she has hotential it’s just her clothes and hair that are awful”
Commonly used to refer to a girl with whom you are considering courtship/elopement/copulation/mating/etc. Typically used by people who are less than attractive to begin with; therefore their person-of-desire is considered "prey".
"Spot any PV's (potential victims) tonight at that house party?"
"I'm going to walk around the club and look for some PV's. I'll report back to you with the results."