Here is what I proposed:Setup fees : Administration Setup:One Time Fee: $400Guidebook: Using professional photos give the guests a professional tour of the house and how the home works (Wifi passwords // How to use grill // How to use propane fireplace // Hot tub instructions // Sauna instructions //Check in and check out instructions //where extras may be storedOTA (Online Travel Agency) setups: taking professional photos and actively updating your listing on popular platforms;PMS (Property Management System) Setup Smart Pricing Set upWebsite integrationOther (furniture arrangement / design / décor shopping and set up) $50 per hour· Placement fees · Marketing Cost: Variable depending on needs/wants for marketingFacebook AdsGoogle Ads Cleaners: Set up procedures/take pics of expectations· Management fee—30%Guest communicationCleaner communicationSetting Rental rateDealing with small maintenance issuesBooking CoordinationSmart Lock integrationKeeping supplies stocked (TP, paper towel, all cleaning products, coffee, filters, creamer, sugars, teas,)(Receipts would be submitted on a monthly basis for either reimbursement or book keeping purposes)Encouraging guests to leave good reviews by periodically checking in, providing a review template, and ensuring guests receive the amenities they are looking forContinued marketingMajor Maintenance fees—OwnerCleaning and laundry services fees: Cleaning fee to the guest depending on how cleaner wants to charge

@Lenn Lin, I'm not a CPA, an not qualified to comment on the accounting aspect of this arrangement.

@Brandon Turner I really enjoy the website but i have a question:I understand that you might have business arrangement with I tunes/Apple but it would be possible for you guys to "diversify"?   

I'd prefer a fixed-fee arrangement.

Please share pros and cons with this arrangement.   

Offering a cash-for-keys arrangement (what would be a reasonable amount?

However, due to the unique calamity of the situation, we will not gain from this misfortune and will be contacting Femi to arrange to return the profit New Western made related to the deal.

We were both relieved when we ended the arrangement and it took us a while to get back to the old ways.Let me ask you this: What happens later on when you have enough experience that you no longer need your friend's expertise and also have enough experience to make larger margins in your flips?

Sometime these arrangements fall apart quickly, it's hard to live with people who live differently than you and you don't really know how someone lives until they are moved in.  

They should negotiate their arrangement of price and services between themselves.