A self analysis of these items should help you decide whether it makes sense to proceed with the improvements or if perhaps you are better suited selling the building as-is and re-invest your capital and time into projects that better align with your core competencies. 

We operate a vacation rental management firm and the % would be on RENTAL REVENUE, not taxes, cleaning fees, pet fees, etc.

I’m expanding my fix & flip operations to Columbus, and I’m looking to build a solid team.

What can I expect Operating expenses to be for a 2 unit property in Erie PA?

That's the only way I'd be comfortable operating any kind of rental, LTR or MTR, out of a condo.

We have two operations managers who manage my two divisions: manufactured housing, and residential/multi-family.

In Florida, coastal areas tend to offer the best opportunities for STRs, especially given the saturation in the theme park areas of Central Florida but I'll let the full time operators chime in.

This property is a historic home and is fully operational.

It is CBD zone so any business including drive thru can operate here. 

We own the real estate and the operating company, and running an event facility in the covid era is challenging.