You are overestimating these numbers.Speculations as to why: tenants in these particular rentals may be tolerating a lower standard of maintenance than you think and thus everything wears longer than you think it will, I may have a different relationship with my maintenance people than you do (actually I don't let my management company do anything and I'm very involved in maintenance, I know how to do practically every necessary task, I manage people directly and sometimes I'll do a few things), there may be an error in your calculations such as you're assuming two units in a duplex don't share as much as they really do (they still share roofs, yards, and many other things), or something else entirely.Either way, your numbers are way too high and I will not be able to answer why in more detail or provide you with my exact numbers without spending a significant amount of time on this. 25% ain't too far off. 

By many standards that is a decent return on that number of rentals if they were bought a couple of years ago.

The contract is the usual Florida realtor approved standard contract which you might be very familiar with being a Florida realtor. 

Given our size and visibility, great responsibility is taken to ensure everyone follows shared standards that balance the best interest of sellers and investors alike.

If you are managing your own properties, there's a different standard. 

Is 10% down for a vacation /second home a standard rate?

The standard advice seems to be that allowing pets increases revenue. 

I don't think most sponsors understand the legal implications and unfortunately it's been 15 years since a cycle has caused the tides to go out, so very few do but once these issues go to court, judges will hold sponsors to a much higher standard.

Do I need to lower my standards or try to find alternative ways to source deals? 

If I can break it still, what does that look like, and are there standards on kinds of concessions for having done so (like giving them 2 months to find another place, those 2 months on my dime, etc.).