But, compared to the loan size, I agree that it does sound steep.

For a $390 annual membership you can analyze unlimited numbers of deals and it saves all your data so you can go back and compare deals or continue to update your data once you buy something and get it operational.

But here's some tactics to explore and compare.1.

You can also do this with FHA products and their low down payment options, compared to investor loans for a non owner-occupied investment that may require 25% down.

Did you compare occupancy of properties not using platform bookings,all direct reservations ?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Currently in DFW (assuming, because MKE may be similar in this regard), I would find it a surprise if you cover your cost of living completely (i.e. living for $0, or getting paid while in the unit) at this time of relatively higher (read: historically AVG) interest rates compared to 2-10 years ago.  

I'll see how this lines up with 15% ROE and compares to my stocks and index fund returns.  

There are limited comparable properties / businesses for sale in the area.

Echoing what Nathan said-make sure you compare the scope of work both are planning on doing and vet your person.