Commercial Revenue Generating properties like office buildings, apartment buildings, retail centers, etc (banks call it "CRE" lending) are typically evaluated from their net operating income, not gross.

So your 35% operating expenses makes sense and seem plenty conservative to me.  

I have over 30 years experience in operating office buildings in NJ and would be will to run the operating arm of these investments for a % of the deals.

They only operate in markets where their data can hedge an almost guarantee if you follow their protocol.

I recently sold one I had on Seabrook Island because the club/regime/HOA were frequently changing the rules and making it harder to operate smoothly.

We are a Veteran owned and operated mortgage company! 

Thanks, Victor.I have met the people in person, and it's a fairly large, established lender operating in multiple states. 

Just make sure you are saving towards those slow months during the peak months, buy a deal at the right price (don't overpay just because its a turnkey STR or you think it will make more money than projected), and look into ways to increase bookings during those slow months with some marketing and operation tweaks. 

The main document that I would like to get review by an attorney will be the operating agreement.I suggest this firm over others that I contacted, their fees were down to earth and did not try to up sell more documents or entities.

I realize this is an older post, but I just wanted to drop a note and mention that my family and I own and operate a property management company that primarily serves Palm Beach County.