@Jake Baker Man, what a tough situation.It’s a real reminder that even with solid plans, even with checking out our numbers a thousand times sometimes completely unexpected disasters can hit hard and mess everything up.

I explained to the landlord what my business plan was, and paid him a set rent amount each month (though slightly higher than market rate rent).

@Jeff Shaver There could be a problem with the plan. 

I would think your plan could work. 

Hi Frank, sounds like you’ve built a solid foundation and have exciting plans ahead - If you're planning to scale, you might also want to explore hard money loans or DSCR loans alongside private lending.

I don't plan on adding anymore and just putting my capital into my existing STR's. 

Welcome to BP, sounds like a great plan!

If you prefer to be hands-off with full-service management, then I'd plan on paying around 20% commission as that's pretty common.

I call this dumb debt: Quick note; the deferred sales trust can save a failed 1031 exchange( cost zero to have this option, nor does it take any of the identification property positions) (It's wise to always have a back up plan)More on Dumb debt.

Have multiple backup plans for any investment.