How about the simple obvious that the inputs to deliver the service/product have a base-line and market prices have, OBVIOUSLY, been at about as lean of operating profit margins as can be. 

Unless a different one would be better that you could suggest   If you are house hacking you can utilize 3-10% down. 20%+ is great to put down but not always possible.

Our agent is not an expert on this type of deal but suggested a short loan term of 3 or 4 years and a balloon payment and written up by a lawyer. 

Any pros/cons on either or any other operator suggestions would be greatly appreciated. 

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Any thoughts or suggestions are welcome here!

Buy a few books, start simple, do your own property managing.

I suggested waiving the entire first month but our manager suggested we wait to see what happens with 50% off first.

Quote from @David Cherkowsky: @Russell Brazil and @Michael BaumThank you both for the suggestions.

Because hiring a GM is far from simple, they literally run everything so how they do directly impacts everything, in a big way.