They normally charge a larger percentage of income because STR are much more involved than LTRs.

You could turn the matter over to a collection company (including law firms that do collections on contingency), but normally, they charge a very high percentage of what they recover, and you normally have to authorize them to settle for any amount the want to.

You can split the ownership by percentage in the LLC?

The cheaper rentals (eg <$1000/month) may need a fixed cost rather than a percentage of the rent-ie $100 a month or 8% which ever is more. 

Hello everyone,Just a little bit about me: I just turned 39, have a wife and 2 kids, have worked as a Pipefitter/Pipe welder for about 18 years now, and currently work for the water district for the East Bay area in C...

In the end its not the percentage of list price, its the value of deal that matters.  

I haven't seen that low of a percentage down on an investment property in a bit.  

It’s imperative to build an increasing percentage of your bookings from direct sources and be able to offer and fill up days at 20-30% less than Airbnb costs without affecting net income. 

While you are at it, learn how to manage your properties well because a large percentage of investors lose tons of money through rookie mistakes with non-paying tenants, unscrupulous contractors, long vacancies, etc. 

For condos, they have to have a vote and changes to the rules need a certain percentage of the votes to pass (and not always 50%, sometimes 2/3 majority).