I'm finding it hard to believe that Xero doesn't have the ability to do this will all their custom reports stuff.In Xero I can't figure out how to get a view in a report how much the principal has paid down over the selected time period. 

Thanks @Bruce Woodruff, PM me @Randy Cheval and I will send you one that I have.Remember, I am not an attorney and it will need to be customized for your use.

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

Customer service does not really exist or it's not as communicative as Airbnb.

We scan and analyze every new listing in an investor's target markets and send an email alert of high-potential properties based on their custom criteria. 

There are multiple customizations for STR that could be made. 

The conversation snowballed into a big argument in the hallway with all tenants joining in. 

My only complaints with their customer service are 1.

Your argument is based on outdated assumptions and ignores the reality of today’s labor market.

like others have said, if you're not wanting to contribute cash, it's very hard to make an argument for why you would get a significant equity share.