@Dennis GallagherIt's my understanding that the "Income-Expense Ratio" primarily use operating expenses as the expense variable, which includes costs like utilities, property taxes, insurance, maintenance, repairs, property management fees, and trash removal, all of which are considered when calculating a property's operating expense ratio (OER).You calculate OER by dividing the total operating expenses by the gross operating income of a property.

"You follow-up & Split Wholesale Fees 50/50."  

Running detailed cash flow projections, factoring in their management fees and expected rent increases (you can use some of the great BiggerPockets Pro tools like the calculators to do this!)

So just curious if my number formula is correct $15k down plus $15k Reno = $30k rental income/year  $14500 vacancy rate 2% operating expensive 35% ( to cover condo fees maintenance insurance ect) $5500 a year mortgage so roughly a 12.25% cash on cash return ? 

You left out information that maybe relevant such as taxes/insurance per year, maintenance cost anticipated per year... plus other expenses depending on rental such as management fee(if you aren't manager), advertising cost to acquire renters, etc....

Are you paying any utilities as the owner, aside from water and user fee?

Next, clarify expectations with your co-host—ask if they see this as part of their service or if a fee is appropriate.

The only thing is the HOA fees go up and they can do special assessments and you have no control over it.

This is a company that extracts fees and does the bare minimum to stay in business.

Also Airbnb does prioritize things like looser cancellation policies, instant book, in line with market cleaning fees, etc.