They used a percentage of the cashflow from those to put towards my income. 

The lower the expected FICO score range, the HIGHER the Vacancy/Nonperformance percentage should be!

I know a few RV park owners who 'pocket' a good percentage of their revenues in cash to keep taxes lowered. 

So... what percentage of your Airbnb earnings go to cleaning?

Thanks Hi Rahul.Some areas North of Phx have a higher percentage of STR's and some have quite a low percentage of STR's.

Do they own a percentage of the property?

They may charge lower percentages, but make up for it in the fee, or charge higher percentages to include everything.

Also of the those properties, ballpark, what percentage were listed and what percentage were distressed (i.e. foreclosure, short sale, off market from a wholesaler, etc...)?

The mortgage payment on this house was roughly $1800/month so when we get tenants (or technically roommates while we're still living in the house) we figure we would have them split the rent evenly, or as a percentage of the house since someone could have the entire basement to themselves.

Move it to a new LLC to avoid old potential issues.You will both be members of the new LLC with percentage ownership.Have an attorney draw up the LLC Operating Agreement and be sure YOU understand it.