I'm wondering if a simple board of director's vote could add a lease management clause with an annual management fee, or if there would need to be a quorum and majority vote?

His annual dividends are around $40,000.

Also are tenants on annual leases or month to month?  

Wiki page on it says 40,000 recruits pass through annually with around 7,000 stationed there at any given time.

But classifying your depreciation (either the leftover annual depreciation after taking bonus depreciation, or the regular amount of depreciation if you didn't take bonus depreciation) can be taken as an active deduction against your W2 income for as long as you materially participate in the property.Disclaimer: I'm not a tax professional so not financial advice. 

Prop 13 that caps prop tax increase at 2% annually is long term investors best friend.  

She is getting a 1.46 multiple over 4 years , so 1.46 X to the Y 0.25 equals 10% compounded annual return, which should be totally covered by depreciation so that's an effective yield of 16% if in top bracket.

>My investors have us build them properties for their passive high cash flow of 17%+ cash on cash return.we have had STRs since 1999 and all of them have total returns very far in excess of 17% annual.  

Let's say theoretically they appreciate 3% annually in value.

Buy-and-hold rentals provide a more stable option, with projected annual appreciation of 5-7% and a strong rental market driven by population and job growth.