In return you get anywhere between 60 to 40% of the revenue that comes out of them.

If it's passive income you want we can talk about you becoming a private lender and getting a good return on your money for each project.

I am considering venturing into the STR market chasing higher returns (gotta be honest!)

If he doesn't have regular paystubs, you can still request proof of income such as bank statements or tax returns.

Remington solid investment, less return much less risk.

All that does it move the effect of the CapEx from the NOI number to the Cash-Flow, Cash On Cash and Internal Rate of Return numbers.

What would you pay for a high quality one and what would you expect in return?

If it falls short you might have to put in expensive  upgrades for them.With national tenants you have to analyze what you are getting versus what you are giving up in return to see if it is worth it or not.

The times I've won they've given me a couple days to sign and return docs along with the deposit/em. 

Based on the numbers you've given, and not knowing what's an average return for your particular area, I'd say it looks like a solid deal as long as...1.