STR management is 20-25% (I would recommend self managing or getting a VA), since income is higher you could probably get away with 5% for maintenance / cap ex but remember you need to cover utilities and cleaning for these units which drives up costs.

And have you thought about building back utilities?

Start with a standard offer, and write a contingency into it for electricity, all the below ground utilities, and then work your way to zoning, permitting etc.

Then I would speak with a land surveyor or civil engineer to get a sense of what it would take to obtain all the entitlements and bring in the utilities, etc.     

As this approach uses very little documentation, it is the least reliable methodology in preparing a cost segregation study.To see all of the steps included within each method, refer to Chapter 3 of the IRS Cost Segregation Audit Techniques Guide.What methodology has your company utilized?

Once you close and establish a relationship with them, I would notify them of a rent increase but we do small ones.

I too live in Marin, and feel it is a solid long term market for apprecaition, and utilizing the power of principle reduction.When it comes to refinancing, figure out what the loan costs will be, then divide that buy the monthly savings with the new loan in order to determine how long you have to maintain that loan to break even. 

The best thing to do here is utilize what's called a DSCR loan.

There's no one size fits all of course, but generally the STR/MTR/LTR mix in a multi-family unit can be challenging because the way renters utilize these properties is so different.

(Further context on the role, the business has solid marketing and network established.