Miami highrises/short term rentals

[Dan Mumm]

Hi everyone! I'm new to BP. I'm a full time RE agent in Las Vegas doing a good amount of business. I always have enjoyed south Florida and as such am interested in buying a second (vacation) home there. Particularly, I've always enjoyed highrise condos downtown. However, being familiar with the industry, I know SFRs are generally safer and more profitable due to condos astronomical HOA fees and legal issues. Does anyone have advice on buying a highrise unit I could enjoy but also making the best investment possible? Particularly, my question is about hotel rental pools. Does anyone know how much the charge is for hotel property management as a BALLPARK percentage of gross income? I'm familiar with the 50% rule of thumb for net to gross rental income... What would this percentage be using a hotel rental pool instead of a normal PM? I'm assuming it would be a lot higher due to the extra costs associated with renting it daily and also govt hotel tax. I've tried to get specific numbers from hotels with no success. Short term hotel/Airbnb rentals would be my first choice so that I could stay whenever I wanted, but I know this cuts into profitability significantly. Is this a pipe dream? Or do I really just have to do 6-12mo leases.