Anyways, we felt like what they had to offer for management seemed fair and we still wanted to proceed to use them even though we did not have a good experience with Michael Azzam. 

Let's say, 10% on average. 25% x (1-.1)= 22.5% average STR fee.Average those two, and you get a little less than 18%, so 15% seems like a "fair" fee

I would just point out that when you get involved with syndications as a LP, you are basically handing over your money and crossing your fingers that the guys you are hooking up with are honest, fair, and will take care of you well.  

The manager by action or inaction could be sued directly or in addition to the property owner for a tenant or guest being injured.There is an additional liability extension called personal injury or landlord personal injury that picks up the liability for a situation such as being sued for wrongful eviction or violating fair housing in some way.

Sometimes these insurance contracts come in legal sized paper- possibly a harbinger of what you'll need to do to collect fairly from them, But always expect them to perform completely on the things which are in their financial favor.

Other than that it was fairly simple and hassle free.

. - Many PMC's use software to approve applicants for speed & to avoid Fair Housing violations.

If they are VERY professional, they will have their processes in writing as verification that it is enforced equally and fairly by their entire staff.6.

The file is limited on what it can do, and misses the mark on things like depreciation recapture or like-kind exchanges, which will impact returns, but it’s fairly sophisticated relative to what you can find out there or if you were doing it yourself with limited knowledge.

You've probably heard of big Landlords losing property, but only because they were flagrantly violating Fair Housing, running a slum, or otherwise violating the law in an egregious manner.