Because I operate a business my goals would be to maximise rents immediately.

There are several ways to achieve this though, and you can  check out this article to learn more.The fourth pillar is somewhat similar - you want to separate your operations from your assets.

Risk level is insignificant when you properly operate your business as others have mentioned.

But not us operators.. other wise every hard money lender would do this.. and we are not all clueless like some thing we are  LOL 

@Christa S Rickard I'm sure you could operate at 21% but it suggests that you are on auto-pilot...letting the roof rot of the place with insufficient reserves...I'd like to take a look at the actual property performance if you're inclined to send it over...

(I operate a restaurant) Anyone else start this way?

@Mark Gast  Are you planning on living in the property or operating at a pure investment? 

What "reasonable" is, is a big can of worms you should discuss with your accountant.It's common to separate ownership of an operating business (the short-term rental business) from ownership of the real estate, so that makes sense, and it also makes sense when discussing mortgage applications.

I know in my primary market you're required to have a brokers license to operate a PM company. 

I recently bought a deal in Berwyn that I should be able to operate at right around a 10 cap.