The structure we landed on was as follows:- Fixed Builder fee of $300k (each project varies but are 2-6 units, and 5,000-9,000 total finished sq ft)- Fixed Return on all my initial capital invested of 50% (plus return of 100% of initial capital)- Remaining Profit Split of 60/40 (60% to me, and 40% to him)I understand a lot of this hinges on how accurate the proforma is and how close we can get to actually hitting our development costs estimates, build cost estimates, and sales per sq. ft. estimates.

Almost all builders can do the development work for you, but that's a unknown cost and nobody can give you an accurate quote without studying the site.

Is that accurate or does it work just like other property management?

., but the DATA says that is not true.So I have factually, mathematically proven to you, without any room for opinion, that I am in fact accurate and correct.Everyone with a probstream membership answer me this.

I have MLS access and have been crosschecking the numbers that sites like Rentcast.io provide and they seem pretty darn accurate.

I am not Sure if occupancy and rates are accurate though since I am not in the STR market here.

Find a model that you can run the exact same test numbers through that you trust has accurate measurements of IRR. 

The team worked tirelessly to get this amended quickly and most importantly, accurately for us.

Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder, etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

They generally have lists they can refer to.It's never 100% accurate because repairs on a newly bought building can quickly cascade into larger projects depending on what they find when they are on site.