For us it varies by market but in our primary market 15% plus a small monthly fee to help cover software costs etc if it's a lower gross property.That's full service, host doesn't have to worry about anything and can forget the property even exists if they want to.We do have tiered services where it's 10% (w/ no or lower monthly fee) if the owner wants us to only do one side of it (either manage bookings but not guests/cleanings/maintenance, or vice versa).25-30% used to be more normal but that's legacy pricing now, for a couple of reasons.1) Of course margins are much thinner for owners now that revenue has generally come down across the board from the peak, while home prices and interest rates have risen alongside that.2) Probably even more important, a simple supply/demand equation, particular to the case of increased supply. 

, and how capital gains would factor into the equation.

There are also numerous other factors that contribute to the equation as well, such as the market you're interested in or even unexpected malfunctions that you will need to be prepared for financially. 5k is a great start though.

And like any person running a business knows, gross revenue doesnt equate to how much I make. 

I budget 5% for vacancy which equates for me to a turnover every ~2 years. 5.

Buying the right property type, location and price are half of the equation.

The LLC is meaningless in this equation at this point unless you are going to pay cash.

It equates a significant dollar total, but not one that would put the regional lender under itself.

Couple that with an interest-only note to lighten the immediate-term financial burden of the investment, we are really looking at an interesting long-term phenomenon.Now if we are to layer in a light "face-lift" into the equation, we could walk into 10-20%+ equity out of the gate.

Are you equating it to theft?