10% is probably a little steep, and like John said, a flat fee may be more reasonable.Setting up a proper STR is not cheap, but once you are set up properly, you deal with routine breakage.I recommend managing yourself and saving the 20% personally, getting a rockstar cleaning team and a reliable handy person, using something like Hospitable that can help automate messaging when listing, and reading the book from the bookstore here called Short-Term Rental, Long-Term Wealth.

Maybe because all “leasing agents” and “supervisors” are completely inexperienced in property management and work out of a call center in the Philippines. 

A drowning man will grab at any rope.Maybe you can make this workout if you can find something . 

I have friends that routinely use ear plugs in a detached single family to eliminate noise from kids, spouses, cars going by on street, etc., when sleeping.

Without that it will be a tough task to accomplish unless you work out some custom structure or bring the GC on the loan with you so you can leverage their direct experience.

This is the way to do it, and any investor looking to purchase in the Lubbock market (or any TX market right now) needs to do the same and focus on the numbers rather than hoping things will work out.

A GP could say some deals do not work out and oh well but the negative press your company gets and the LP losses incurred those investors will be lost forever on future deal and they will tell everyone their story.

At some point I want to build a 5000sf metal building to work out of instead of renting.

Which ever home you choose as the main home it will be a tax deduction so it should work out in the long run.Another thing to consider is having two primary homes does not offer a great Schedule E option where you can have the bigger tax shelter. 

You'd be banking on 1) your business partnership to work out, and 2) living together to work out.