I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

I get into contract in my operating company and then assign the contract to the new LLC prior to closing.  

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

I bet both Columbus and Cincinnati made the list. 

If you are a STR operator how do you deal with remitting and paying tax?

Lastly, do you have any experience operating STRs in the last 12 months?  

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.

The best way to connect and learn is to be in rooms where it's going down.In terms of captial your best bet is to focus on a primary income that cash flow sufficiently, saving as much as you can and doing something real estate related so you can get familiar with the industry.

Finally, of the extra $200k, how much are you putting into operating reserves? 

You do that, it's going to be best place to start because I am betting from there you will seek how to simplify things.