Should I keep it or rent it out unfurnished (w/ management I will cut even or loose like $100 per month cash flow)? 

Revisit the deal like you said, and keep plugging away with the others.

I'm kind of surprised that vendors will keep providing services if their bills aren't being paid?   

Just keep calling the police when there are issues. 

we pass on at cost, keeps it easy to respond to guests when they say our cleaning is high. have even proved it to guests before- some people just like to see it and most i have done that with have become long time rebookers.Make money on your house and pass along fees at cost to me thats the best way to go and has been fruitful for us 

It is much easier to talk about being conservative when the sponsor implies that they are CHOOSING to keep millions in reserves or buy a low interest rate cap.  

You qualify as a Real Estate Professional (REP).Keep in mind that the big play is accelerated depreciation to lower your tax burden which in turn increases your cash flow for that year.

Gotta keep that money local, ya kno? 

Now, the headline of % of rents, vs the huge number of ticky tack fees doesn't really matter in the end if the PM is good and runs a tight ship, keeping my property well maintained and occupied.

keeping it short term partners is best so you don't get stuck with someone you don't like.